Revision u/s 263 - Addition u/s 68 - Assessee has discharged the ...

PCIT wrongly deemed AO's reassessment order as erroneous; assessee met burden u/s 68, aligning with precedents.

March 9, 2021

Case Laws Income Tax AT

Revision u/s 263 - Addition u/s 68 - Assessee has discharged the onus on it; and twice the AO enquired about it and in the reassessment this issue has been thoroughly enquired as discussed supra and the view taken by AO is a plausible view in line with the judicial precedence supra and so it cannot be called erroneous. So the Ld PCIT erred in holding the AO’s re-assessment order as erroneous. - AT

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Revision u/s 263 - Addition u/s 68 - Assessee has discharged the ...

PCIT wrongly deemed AO's reassessment order as erroneous; assessee met burden u/s 68, aligning with precedents.

March 9, 2021

Case Laws Income Tax AT

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