Revision u/s 263 - AO allowed of the assessee‟s claim for ...

PCIT cannot revise AO's decision on forfaiting charges deduction; AO's comprehensive assessment u/s 263 upheld.

March 26, 2021

Case Laws Income Tax AT

Revision u/s 263 - AO allowed of the assessee‟s claim for deduction of forfaiting charges as revenue expenditure - as the A.O while framing the assessment had after making exhaustive verifications arrived at a plausible view as regards the assessee‟s entitlement towards claim of deduction of the forfaiting charges therefore, the PCIT could not have invoked his revisional jurisdiction under Sec. 263 - AT

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Revision u/s 263 - AO allowed of the assessee‟s claim for ...

PCIT cannot revise AO's decision on forfaiting charges deduction; AO's comprehensive assessment u/s 263 upheld.

March 26, 2021

Case Laws Income Tax AT

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