HC Upholds ITAT Order Quashing Section 263: AO Conducted Due Enquiries During Assessment

PCIT-1 Vs Kutch District Co. Op. Milk Producers Union Ltd (Gujarat High Court) In the matter abovementioned Gujarat HC have dismissed appeal filed by the revenue against the order passed by ITAT quashing the order u/s 263. The Assessee, a co-operative society, filed its return  for AY 2017-18 at Rs. 2,47,97,470/- after claiming a deduction of Rs. 5,85,90,142/- u/s 80P. The case was selected for complete scrutiny and assessment was concluded under Section 143(3) at Rs. 2,61,44,050/, by making an addition of Rs. 13,46,581/- u/s 36(1)(va) r.w.s. Section 2(24)(x). During the relevant assessment y...