No Errors or Infirmities Found in Assessment Order Prejudicial to Revenue’s Interest: ITAT sets aside order passed by PCIT u/s 263 of Income Tax Act [Read Order]
“This power of revision can be exercised only where no enquiry, as required under the law, is done. It is not open to enquire in case of inadequate inquiry”
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) recently made a significant decision, overturning an order passed by the Principal Commissioner of Income Tax ( PCIT ) under section 263 of the Income Tax Act, 1961. The ITAT found no errors or infirmities prejudicial to the revenue’s interest in the assessment…
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