Exercising of revisional jurisdiction in a mechanical & cavalier manner is unsustainable

Soma Enterprise Limited Vs PCIT (Central) (ITAT Mumbai) ITAT Mumbai held that AO duly verified the TDS credit and assessee duly explained as to why certain receipts though subjected to TDS, would not be liable to be offered to tax such as mobilization advance. Ignoring the same and exercising the revisional jurisdiction u/s 263 in a mechanical and cavalier manner is unsustainable Facts- Post search operations, AO specifically stated that the credit for TDS and pre-paid taxes need to be given after due verification of his assessment order. However, PCIT invoked jurisdiction u/s 263 seeking revi...