ITAT Upholds PCIT’s Decision on Erroneous Assessment Orders and Inadequate Inquiries in Tax Evasion Case

Prakashbhai Ishwarbhai Changela Vs PCIT (ITAT Rajkot)

The Income Tax Appellate Tribunal (ITAT) heard two appeals filed by Prakashbhai Ishwarbhai Changela against separate orders passed by the Principal Commissioner of Income Tax (PCIT), Rajkot. The PCIT had exercised his revisionary powers under Section 263 of the Income Tax Act, 1961 and set aside the assessment orders for Assessment Years (AYs) 2012-13 and 2013-14, finding them to be erroneous and prejudicial to the revenue.

The ITAT considered the facts leading to the exercise of power under Section 263 by the PCIT

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