Revision u/s 263 - bad debts written off - assessee had not even ...
Section 263 Revision Invalid: Assessee's Unintentional Omission of Bad Debts Disclosed in Audited Accounts, Not Justifying Revision.
January 18, 2023
Case Laws Income Tax AT
Revision u/s 263 - bad debts written off - assessee had not even reflected under the head “bad debts” in the relevant column of ITR - though it was mistakenly omitted, however, the assessee company had given the due disclosure of the amount written off in the audited profit and loss account. The issue has not only been brought to the notice of the assessing officer, but the same has also been examined and verified by the AO - Revision proceedings are not valid - AT
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