Revision u/s 263 by CIT - We find that the assessment order qua ...

Case Laws Income Tax

January 28, 2022

Revision u/s 263 by CIT - We find that the assessment order qua the deduction under section 80(9)(2)(d) of the Act on account of interest earned from Surat Co-operative bank is not erroneous. Since the order is not erroneous, though, it may be prejudicial to the interest of the Revenue. Thus, the twin condition as provided in section 263 of the act is not fulfilled qua the income component of interest income earned on deposit with Surat Cooperative Bank; therefore, the order passed by the ld PCIT is set - AT

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Revision u/s 263 by CIT - We find that the assessment order qua ...

Case Laws Income Tax

January 28, 2022

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