Revisionary Jurisdiction under Income Tax Act cannot be invoked on allegation of Improper Inquiry by AO: ITAT [Read Order]
The tribunal held that exercise of jurisdiction under Section 263 is invalid and, hence, unsustainable, as the assessment order cannot be held to be erroneous and prejudicial to the interest of Revenue
The Delhi Bench of Income Tax Appellate Tribunal ( ITAT ) has held that revisionary jurisdiction under the Income Tax Act, 1961 cannot be invoked on allegation of improper inquiry by Assessing Officer ( AO ). The Tribunal viewed that the assessment order was held to be erroneous and prejudicial to the interest of revenue merely…
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