Invocation of revision proceedings after approval of resolution plan not justified: ITAT Ahmedabad

Care Office Equipment Limited Vs PCIT (ITAT Ahmedabad)

ITAT Ahmedabad held that invocation of Revision proceedings under section 263 of the Income Tax Act after approval of the Resolution Plan by NCLT is against the Provisions of Law. Accordingly, revisionary proceedings quashed.

Facts- The assessee is a Company engaged in the business of sale of Computer Hardwares service provides of Bar Code Stickers, Equipments and Printers. For the Asst. Year 2018-19, assessee filed its Return of Income on 30-10-2018 claiming a loss of Rs. 33,88,77,148. The return was pr

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