Bangalore ITAT Quashes Section 263 Order: No Revision Possible When Alleged Expenditure Was Never Claimed

Khoday India Limited Vs DCIT (ITAT Bangalore) Bangalore ITAT Quashes Section 263 Order: No Revision Possible When Alleged Expenditure Was Never Claimed The Bangalore ITAT quashed the revisionary order passed under Section 263, holding that the very foundation of the revision proceedings collapsed when the Revenue failed to establish that the assessee had ever claimed the alleged expenditure sought to be disallowed. The PCIT had invoked Section 263 on the allegation that the assessee had incurred commission expenditure of ₹18.84 lakh towards alleged illegal payments in connection with liquor ...