Karnataka HC Upholds Section 263 Revision Due to Lack of Detailed Findings in Assessment Order

PCIT Vs TE Connectivity India Pvt. Ltd. (Karnataka High Court) Revision proceedings under section 263 upheld on the grounds of absence of detailed order about the relevant issue in the assessment order : Karnataka High Court Overview: The case involves the revision of an assessment order under Section 263 of the Income Tax Act. The PCIT alleged that the AO failed to disallow ₹36.34 crore paid as commission without TDS, making the order erroneous and prejudicial to the Revenue. While the ITAT held that the AO had taken a plausible view after examining the issue, the High Court disagreed. Fac...