CIT can initiate suo moto proceedings U/s. 263 where AO takes a wrong decision

Advocate Akhilesh Kumar Sah

Cochin International Airport Ltd. Vs ACIT (ITAT Cochin)

Cochin International Airport Ltd appeal: The Commissioner is empowered to initiate suo moto proceedings under section 263 where the AO takes a wrong decision

Section 263 of the Income Tax Act, 1961(for short ‘the Act’) deals with the revision of orders prejudicial to Revenue by the Prin

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