Section 263 revision cannot exceed reassessment scope: ITAT Kolkata

Barik Biswas Vs ACIT (ITAT Kolkata) Income Tax Appellate Tribunal (ITAT), Kolkata, delivered a significant order in the case of Barik Biswas Vs. Assistant Commissioner of Income Tax (ACIT), addressing the validity of revisionary orders under Section 263 of the Income Tax Act and disallowances under Section 40A(3). The tribunal heard a batch of appeals for Assessment Years 2008-09 to 2013-14, 2015-16, 2016-17, and 2020-21, issuing separate findings for different sets of appeals. For ITA Nos. 521 to 526/KOL/2024, pertaining to AY 2008-09 to 2013-14, the primary legal challenge raised by the asse...