PCIT cannot exercise revisionary power u/s. 263 to restore issue for verification purpose: ITAT Ahmedabad

Hari Enterprise Vs PCIT-1 (ITAT Ahmedabad) ITAT Ahmedabad held that PCIT cannot exercise revisionary power u/s. 263 to restore an issue for the purpose of verification only since restoring matter for verification means that PCIT is not sure of assessment order being erroneous causing prejudice to the revenue. Facts- Revisionary jurisdiction was exercised on the order passed by the Assessing Officer (AO) under section 143(3) of the Act for the impugned assessment year in the case of the assessee, noting several errors in the same causing prejudice to the Revenue. Notably, the errors related to ...