Incorrect calculation of income rectifiable u/s. 154 and not by invoking jurisdiction u/s. 263: ITAT Ahmedabad

Prakash Khatri Vs PCIT (ITAT Ahmedabad)

ITAT Ahmedabad held that incorrect calculation of income is liable to be rectifiable under section 154 of the Income Tax Act and not by invoking Revision proceeding u/s. 263 of the Act. Thus the Revision order passed by Ld. PCIT is hereby liable to be quashed.

Facts- The assessee is an individual engaged in the business of land trading. For the Asst. Year 2019-­20, Assessee filed his Return of Income on 30-09-2019 declaring total income of Rs.23,49,930/- wherein salary income of Rs.25,34,930/, Long Term Capital Gain o

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