Inadequacy of enquiry would not confer power of revision Section 263 Revision

Procter and Gamble Health Private Limited Vs PCIT (ITAT Mumbai)

Distinction between “lack of inquiry” and “inadequate inquiry”: Even inadequacy of enquiry would not confer the power of revision u/s 263- Revision quashed: ITAT Mumbai

Mumbai ITAT has set aside a revisionary order passed by PCIT u/s 263, holding that AO had conducted proper & adequate enquiries during the original scrutiny assessment & that the PCIT’s action was merely based on a difference of opinion.

Assesseefiled its return of income for AY 2018–19

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