Case Law Details
PCIT Vs Techno Tracom Pvt. Ltd. (Calcutta High Court)
Calcutta High Court held that invocation of revisional jurisdiction by PCIT u/s 263 of the Income Tax Act ignoring the order passed u/s 153A of the Income Tax Act as immaterial and irrelevant unjustified.
Facts- This appeal filed by the revenue under Section 260A of the Income Tax Act, 1961 (Act) is directed against the order dated 18th April, 2022 passed by the Income Tax Appellate Tribunal for A.Y. 2009-10.
The short issue which falls for consideration in this appeal is whether the assumption of jurisdiction by the Principal Commissioner of Income Tax (PCIT) u/s. 263 of the Income Tax Act was justified and whether the order passed under the said provision was valid and sustainable in law.
Conclusion- Held that in our opinion the PCIT could not have ignored the order passed under Section 153A of the Act as being immaterial and irrelevant. The Tribunal not stopping with that has also examined as to the exercise undertaken by the Assessing Officer while completing the assessment under Section 153A of the Act and found that the entire records were examined and no adverse inference was drawn against the assessee.
Please become a Premium member. If you are already a Premium member, login here to access the full content.
Author Bio
