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Revisionary action u/s. 263 based on factual misconception bad-in-law

Mon, 17 Mar 2025 06:27:00 GMT

The present appeal has been filed by the assessee, against the order dated 19.03.2024, passed by Principal Commissioner of Income Tax (‘PCIT’ for short), Mumbai u/s. 263 of the Income Tax Act, 1961 ...


Revisionary jurisdiction u/s. 263 not invocable as twin pre-conditions not satisfied

Mon, 17 Mar 2025 06:26:00 GMT

ITAT Ahmedabad held that assessment order passed u/s. 143 (3) is neither erroneous nor prejudicial to the interest of revenue. Hence, revisionary jurisdiction u/s. 263 of the Income Tax Act not ...