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Income Tax - Highlights / Catch Notes

Home Highlights March 2021 Year 2021 This

Revision u/s 263 - Merely because the balance sheet and P&L ...

Case Laws     Income Tax

March 12, 2021

Revision u/s 263 - Merely because the balance sheet and P&L account are placed before the AO at the time of assessment, it cannot be construed that the AO had verified the entire issues unless specific information is called by the AO. Therefore, there was an error which is prejudicial to the interest of revenue with regard to non-verification of financial surcharge adjustment in the assessment made u/s 143(3). - AT

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