Revision u/s 263 - Scope of audit objection - The entire ...

Improper Exercise of Revision Jurisdiction u/s 263: PCIT's Decision Based on Audit Objection Overturned.

February 28, 2023

Case Laws Income Tax AT

Revision u/s 263 - Scope of audit objection - The entire exercise seems to have been done because of audit objection only. Since, the Assessing Officer had duly enquired about the matter and was satisfied with the explanation given by the assessee, the ld. PCIT, in our view, has wrongly exercised his revision jurisdiction on the issue which is nothing but change of opinion, that too, at the instance of audit party. - AT

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Revision u/s 263 - Scope of audit objection - The entire ...

Improper Exercise of Revision Jurisdiction u/s 263: PCIT's Decision Based on Audit Objection Overturned.

February 28, 2023

Case Laws Income Tax AT

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