Revision u/s 263 - Since the two properties referred by Ld. PCIT ...

Challenge to Section 263 Revision: Properties Owned by Partnership, Not Individual; No Revenue Loss to Assessee.

November 22, 2022

Case Laws Income Tax AT

Revision u/s 263 - Since the two properties referred by Ld. PCIT belonged to the partnership firm, the profit on sale of those properties cannot be assessed in the hands of the assessee. When there is no revenue leakage in the hands of the assessee, the impugned assessment order cannot be termed as erroneous and prejudicial to the interests of revenue in respect of this issue. - AT

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Revision u/s 263 - Since the two properties referred by Ld. PCIT ...

Challenge to Section 263 Revision: Properties Owned by Partnership, Not Individual; No Revenue Loss to Assessee.

November 22, 2022

Case Laws Income Tax AT

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