Revision u/s 263 - Even though the ld. CIT was rightfully ...

Case Laws Income Tax

February 6, 2021

Revision u/s 263 - Even though the ld. CIT was rightfully entitled to take recourse to the Explanation 2, but thereafter he needed to bring the case with in any one or more of the four clauses given therein. It is palpable that none of the four clauses of the Explanation 2 applies to the case under consideration. The sequitur is that the revisionary power, even under the enlarged scope of the Explanation 2, was not legally exercisable. Ex consequenti, we set aside the impugned order. - AT

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Revision u/s 263 - Even though the ld. CIT was rightfully ...

Case Laws Income Tax

February 6, 2021

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