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Invocation of revisionary proceedings u/s 263 merely because of non-agreeing to the view of AO is unjustified
Case Law Details
- Case Name
- Bonjour Estates (P) Ltd. Vs PCIT (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2010-2011
- Courts
- All ITAT, ITAT Delhi
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Bonjour Estates (P) Ltd. Vs PCIT (ITAT Delhi)
ITAT Delhi held that PCIT is not empowered to invoke revisionary proceedings u/s. 263 of the Income Tax Act, merely because he is not agree with the view taken by the AO. Accordingly, revisionary proceedings bad in law.
Facts- The ground of appeal relates to validity of revisionary proceedings initiated by Ld. PCIT-1 u/s. 263 of the Income Tax Act 1961.
It is submitted that the assessee for A.Y. 2010-11 filed its return of income u/s. 139 of the Act on 24.09.2010 which was processed u/s. 143(1) on 11.02.2011. Subsequently the AO in...
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