Revision u/s 263 - at the time of exercise of jurisdiction under ...

CIT's Parallel Proceedings u/s 263 Deemed Inappropriate Due to Pending AAR Decision on Offshore Supply Contract.

July 28, 2023

Case Laws Income Tax AT

Revision u/s 263 - at the time of exercise of jurisdiction under Section 263, admittedly, proceedings before AAR was pending on the issue of taxability of receipts from offshore supply contract. That being the case, learned CIT being conscious of the fact that proceeding is pending before AAR should not have initiated proceedings under Section 263 of the Act as two parallel proceedings on the same issue, cannot be initiated at a given point of time. - AT

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Revision u/s 263 - at the time of exercise of jurisdiction under ...

CIT's Parallel Proceedings u/s 263 Deemed Inappropriate Due to Pending AAR Decision on Offshore Supply Contract.

July 28, 2023

Case Laws Income Tax AT

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