2024 (2) TMI 1348

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..... 1) TMI 252 - BOMBAY HIGH COURT] AO has not taken into account the relevant consideration of absence of actual business activity of the appellant for the purpose of treating the expenditure claimed as an allowable expenditure and loss to the revenue on account of the error in the assessment order is directly attributable to the error in the assessment order. HELD THAT:- As submitted at the Bar .....

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..... ankar Jain, Adv ORDER UPON hearing the counsel the Court made the following. It is submitted at the Bar that pursuant to the exercise of jurisdiction under Section 263 of the Income Tax Act, 1961, fresh assessment order has been passed and the same is also under challenge before the Appellate Tribunal (ITAT). In that view of the matter, we are not inclined to interfere in this case. .....

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