Invocation of power u/s 263 unjustified as order neither erroneous nor prejudicial to interest of revenue

Bashir Ahmed Abdurrahman Matte Vs PCIT (ITAT Bangalore)

ITAT Bangalore held that revisionary power u/s 263 cannot be invoked when the order passed by AO is neither erroneous nor prejudicial to the interest of revenue.

Facts-

Assessee, Shri Bashir Ahmed Matte, is an Orthopaedic Surgeon in Gokak and survey u/s 133A was conducted on 06/09/2012. He admitted the additional income of Rs.70,76,000/- and offered for tax and AO made some other ad

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