Mere Pendency of Supreme Court Appeal No Ground for 263 Revision: ITAT Mumbai

Colgate Palmolive (India) Limited Vs PCIT (ITAT Mumbai) Judicial Discipline Reaffirmed – PCIT Cannot Disagree With Coordinate Bench- ITAT Mumbai Quashes PCIT’s 263 Revision Against Colgate Palmolive ITAT Mumbai has quashed the revisionary order passed u/s 263 by PCIT, thereby restoring the assessment framed by AO. Tribunal held that the action of the PCIT in disagreeing with a Coordinate Bench decision in assessee’s own case for earlier year was not in consonance with judicial discipline & that mere pendency of Revenue appeal before Supreme Court cannot justify revision under section...