Revision u/s 263 - The expression prejudicial to the interest of ...

Section 263: Erroneous Order by Assessing Officer Deemed Prejudicial to Revenue Interests, Beyond Tax Loss.

January 25, 2023

Case Laws Income Tax AT

Revision u/s 263 - The expression prejudicial to the interest of the revenue is of wide import and is not confined to merely loss of tax. - The term erroneous means a wrong/incorrect decision deviating from law. This expression postulates an error which makes an order unsustainable in law. Therefore, we hold that order passed by the Assessing Officer is erroneous and prejudicial to the interest of Revenue - AT

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Revision u/s 263 - The expression prejudicial to the interest of ...

Section 263: Erroneous Order by Assessing Officer Deemed Prejudicial to Revenue Interests, Beyond Tax Loss.

January 25, 2023

Case Laws Income Tax AT

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