CIT cannot assume section 263 Jurisdiction merely for not agreeing with View of AO

PCIT Vs Bangiya Gramin Vikash Bank (Calcutta High Court)

The short issue which falls for consideration is whether the exercise of jurisdiction by the Commissioner of Income Tax-14 (Kolkata) (CIT) under Section 263 of the Act was just and proper. The Tribunal considered the factual position and noted that the CIT was of the opinion that the order of the Assessing Officer dated 18^th March, 2013 was erroneous and prejudicial to the interest of Revenue and certain reasons were assigned thereto. The matter concerns the

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