Revision u/s 263 justified as details not examined by AO: ITAT Mumbai

ICICI Bank Ltd Vs DCIT (ITAT Mumbai) ITAT Mumbai held that non-examination of the details clearly makes the order of AO erroneous and prejudicial to the interest of revenue. Accordingly, PCIT correctly assumed the revisional jurisdiction under section 263 of the Income Tax Act. Facts- Assessee is a company engaged in banking operations and related activities showing income from banking activities, dividends, interest on debentures, leasing, deposits and advances and commission fee etc. AO passed the assessment order on 12/02/2019 u/s 143 (3) rws 144C (3) of the Act after making various additio...