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PCIT Can’t Initiate Revision Based on document not forming part of Assessment
Case Law Details
- Case Name
- Visu Casement Pvt. Ltd. Vs PCIT (ITAT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2015-16
- Courts
- All ITAT, ITAT Ahmedabad
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Visu Casement Pvt. Ltd. Vs PCIT (ITAT Ahmedabad)
Introduction: In the case of Visu Casement Pvt. Ltd. vs. PCIT (ITAT Ahmedabad), the Assessee challenged the order of the Principal Commissioner of Income Tax-2, Vadodara, regarding the assessment for the Assessment Year 2015-2016. The key issue revolved around the PCIT’s assertion that the original assessment under section 143(3) of the Income Tax Act was erroneous and prejudicial to revenue.
Detailed Analysis: The Assessee, a private limited real estate company, had sold a portion of land during the relevant year, resulting in a substant...
