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Revisional Power: Difference of Opinion Alone Insufficient to invoke Section 263
Case Law Details
- Case Name
- Nanak Chand & Co. Vs PCIT (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2017/18
- Courts
- All ITAT, ITAT Delhi
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Nanak Chand & Co. Vs PCIT (ITAT Delhi)
In a recent decision, the Income Tax Appellate Tribunal (ITAT) in Delhi ruled that a difference of opinion alone is insufficient to invoke Section 263 of the Income Tax Act. The case involved a revisional order passed by the Principal Commissioner of Income Tax (Pr.CIT) concerning the assessment order for the assessment year 2017-18.
Background:
The assessee had e-filed its income tax return for Assessment Year 2017-18, declaring a taxable income of Rs. 1,75,930. The return was selected for scrutiny assessment, with the primary issue ...
