Revision u/s 263 - claim for deduction u/s 54B - the assessment ...

Income Tax

December 25, 2021

Revision u/s 263 - claim for deduction u/s 54B - the assessment order cannot be termed as “erroneous”. There is no material on record indicating that the appellant had not satisfied the conditions laid down under the provisions of the Act for claiming exemption u/s 54B of the Act. Therefore, the assessment order cannot be branded as “erroneous” and “prejudicial to the interests of the revenue”. - AT

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Revision u/s 263 - claim for deduction u/s 54B - the assessment ...

Income Tax

December 25, 2021

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