PCIT Cannot Revise Assessment U/s 263 for Different View on Agricultural Income

Bhanwarlal Champalal Kanunga Vs PCIT (ITAT Ahmedabad) AO Already Examined Agricultural Income, PCIT Cannot Substitute His Opinion- 263 Quashed; PCIT Cannot Rely on Past Year to Revise Current Assessment – 263 Set Aside by Ahmedabad Bench Ahmedabad  Tribunal in quashed revisionary order u/s 263 by holding that AO had made due enquiries into agricultural income claim & accepted Assessee’s explanation, hence PCIT could not revise the order merely for taking a different view. Assessee, an individual, filed return declaring total income of Rs.63.44 lakh & exempt agricultural income of...