ITAT Quashes Sec 263 Revision Against Mauritius FPI for Lack of Error or Prejudice to Revenue

Steadview Capital Mauritius Limited Vs CIT (ITAT Mumbai) The Income Tax Appellate Tribunal (ITAT), Mumbai, has set aside a revision order issued by the Commissioner of Income Tax (CIT) against Steadview Capital Mauritius Limited. The tribunal’s ruling, delivered on August 18, 2025, determined that the original assessment order was not erroneous or prejudicial to the interests of the revenue, as the Assessing Officer (AO) had conducted adequate inquiries during the initial assessment proceedings. The case centered on the CIT’s invocation of Section 263 of the Income Tax Act, 1961, t...