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ITAT Sets Aside Section 263 Revision on Revenue Recognition & TDR Expenses
Case Law Details
- Case Name
- RDC Ventures Vs PCIT (ITAT Mumbai)
- 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 Mumbai
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RDC Ventures Vs PCIT (ITAT Mumbai)
The assessee appealed against the order dated 30.03.2023 passed by the Principal Commissioner of Income Tax (Pr. CIT)-27, Mumbai under Section 263 of the Income-tax Act for Assessment Year 2018-19. The original assessment had been completed under Section 143(3) read with Sections 143(3A) and 143(3B) by accepting the returned income of ₹2,28,82,260 after scrutiny on the issues of income from real estate business and unsecured loans.
Subsequently, the Pr. CIT issued notices under Section 263 on 01.03.2023 and 03.03.2023. The Pr. CIT observed that the assessee...
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