Section 263 cannot be exercised by CIT for reliance by AO on affidavit

Advertisement C. M. Buildcon Pvt. Ltd. Vs PCIT (ITAT Delhi) It can be appreciated form the impugned order that the primarily the Ld Revisional authority was not convinced as to how only on the basis of affidavit by the partner of M/s Cardio Technovention Ld. AO has given benefit to assessee and ignored the document impounded in the survey on M/s Cardio Technovention. The Bench is of considered opinion that certainly affidavit is not included in the definition of ‘Evidence’ under the Indian Evidence Act 1872, but where a quasi judicial authority wants any fact to be proved by way of an a...