Arbitral use of revisionary powers u/s. 263 is unsustainable

Surjeet Singh Vs PCIT (ITAT Chandigarh)

ITAT held that CIT Cannot exercise  Revisionary Powers under Section 263 of Income Tax Act arbitrarily without satisfying twin conditions necessary for exercising  of powers.

Facts- The AO passed an order u/s 143(3) dated 19.05.2017 wherein addition was made in regard to a Long Term Capital GainPlease become a Premium member. If you are already a Premium member, login here to access the full content.