Non-satisfaction of twin conditions for invoking jurisdiction u/s 263 renders proceedings unsustainable

Kaur Cookies (P) Ltd Vs PCIT (ITAT Delhi)

ITAT Delhi held that for invoking revisional jurisdiction u/s 263 it is necessary to satisfy twin conditions i.e. one being that order should be erroneous and second, such order should be prejudicial to the interests of the Revenue. Non-satisfaction of the conditions renders the proceedings unsustainable.

Facts- the assessee filed its return of income declaring loss of Rs. 2,40,88,622/- on 6.11.2017. Thereafter, revised return was filed on 21.06.2018 declaring

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