PCIT cannot invoke section 263 for mere non-satisfaction with conclusion arrived by AO

Nipro India Corporation Pvt. Ltd. Vs PCIT (ITAT Pune) ITAT Pune held that the conclusion arrived by AO on his satisfaction of details furnished by the assessee, cannot be found to be erroneous simply because Pr. CIT does not feel satisfied with the said conclusion. Accordingly, invocation of revisionary jurisdiction u/s 263 unjustified. Facts- The short point arises for our consideration in respect of Rent and Freight expenses is as to whether the Pr. CIT justified in setting aside the assessment order dated 06-12-2017 passed u/s. 143(3) of the Act by holding the same as erroneous and prejudic...