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Mere inadequacy of enquiry by AO cannot justify invoking Section 263
Case Law Details
- Case Name
- AZB And Partners Vs PCIT (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2020-21
- Courts
- All ITAT, ITAT Mumbai
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AZB And Partners Vs PCIT (ITAT Mumbai)
The Tribunal held that mere inadequacy of enquiry by the AO cannot justify invoking Section 263. AZB & Partners’ assessment was upheld, reinforcing limits on revision powers under Explanation 2(a).
ITAT Mumbai Quashes 263 Against AZB & Partners – No Revision for Adequate Enquiry- Mere Inadequacy of Enquiry Cannot Justify 263 – Tribunal Rules for Law Firm- Explanation 2(a) to 263 Not Blanket Power – ITAT Reaffirms Limits on Revision
Assessee, a leading law firm, had filed return declaring income of Rs. 281.18 crore. The assessment was compl...
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