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

Case Laws Income Tax

July 28, 2023

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 ...

Case Laws Income Tax

July 28, 2023

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