Revision u/s 263 - reopening of assessment u/s 147 - period of ...

Court Finds No Error in Assessment; PCIT Order Lacks Evidence of Revenue Harm u/ss 263 and 147.

July 4, 2022

Case Laws Income Tax AT

Revision u/s 263 - reopening of assessment u/s 147 - period of limitation - these issues are not such which can render the assessment erroneous. Similarly what prejudice is caused to the revenue is also not clear from the order of the ld PCIT. In order to revise the order the twin conditions have to be satisfied i.e. the order has to be erroneous and secondly it must be prejudicial to the interest of the revenue. - AT

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Revision u/s 263 - reopening of assessment u/s 147 - period of ...

Court Finds No Error in Assessment; PCIT Order Lacks Evidence of Revenue Harm u/ss 263 and 147.

July 4, 2022

Case Laws Income Tax AT

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