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Mumbai ITAT: Section 263 Revision Invalid After AO Followed Binding HC Ruling
Case Law Details
- Case Name
- City and Industrial Development Corporation of Maharashtra Limited 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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City and Industrial Development Corporation of Maharashtra Limited Vs PCIT (ITAT Mumbai)
Mumbai ITAT: Section 263 Revision Invalid When AO Follows Binding High Court Decision and PCIT Acts on AO’s Proposal
The Mumbai ITAT quashed the revisionary order passed under section 263, holding that the Assessing Officer’s order could not be regarded as erroneous and prejudicial to the interests of the Revenue when it had been passed in conformity with the binding judgment of the Bombay High Court. The assessee, a statutory corporation acting as an agent of the Government of...
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