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ITAT Ahmedabad: PCIT’s 263 Revision on 14A Quashed – No Automatic Disallowance
Case Law Details
- Case Name
- HN Safal Infra Developer Pvt. Ltd. Vs PCIT (ITAT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2018-19
- Courts
- All ITAT, ITAT Ahmedabad
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HN Safal Infra Developer Pvt. Ltd. Vs PCIT (ITAT Ahmedabad)
ITAT Ahmedabad: PCIT’s 263 Revision on 14A Quashed – No Automatic Disallowance; Jurisdictional Safeguards Ignored – Tribunal Sets Aside 263 Order
Background
PCIT invoked sec.263, revising assessment order u/s 143(3) dated 12.04.2021.
Grounds: AO failed to make disallowance u/s 14A r.w. Rule 8D on exempt income of ₹55,978/- earned from LLP/firm investments.
PCIT held AO’s order “erroneous & prejudicial to Revenue,” directed AO to recompute disallowance.
Assessee challenged revision, arguing:
Order passed in name of...
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