Revision u/s 263 - CIT setting aside the second reassessment ...

Income Tax

March 1, 2024

Revision u/s 263 - CIT setting aside the second reassessment order - time limit to take action u/s 263 - the necessity for the Commissioner to have substantial grounds for considering an order as erroneous and prejudicial to the interests of the revenue - The tribunal found the section 263 order to be unjustifiable for multiple reasons, including the absence of a clear failure by the assessee to disclose fully and truly all material facts necessary for its assessment, and quashed the order. - Revision order quashed.

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Revision u/s 263 - CIT setting aside the second reassessment ...

Income Tax

March 1, 2024

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