ITAT Invalidates PCIT’s Hasty Revision u/s 263 and Remands Case for Fresh Hearing [Read Order]

The tribunal emphasized that the PCIT had acted with undue haste in completing the proceedings within just 12 days, despite having over a year to conduct a thorough review
By Sneha Sukumaran Mullakkal - On October 15, 2024 12:20 pm - 2 mins read
ITAT - Income Tax - Income Tax Appellate Tribunal - Hasty revision under Section 263 - TAXSCAN

The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) invalidated the Principal Commissioner of Income Tax’s (PCIT) hasty revision under Section 263 of Income Tax Act,1961 and remanded the case for a fresh hearing, ensuring the assessee would have a fair opportunity to address the issues raised comprehensively. Dineshbhai Dahyabhai Patel,the appellant-assessee, filed…

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