Case Law Details
Case Name : Zulu Merchandise Pvt. Ltd. Vs PCIT (ITAT Kolkata)
Related Assessment Year : 2012-13
Courts :
All ITAT ITAT Kolkata
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Zulu Merchandise Pvt. Ltd. Vs PCIT (ITAT Kolkata)
In the case of Zulu Merchandise Pvt. Ltd. vs. PCIT (ITAT Kolkata), the central issue was whether the Principal Commissioner of Income Tax (PCIT) correctly exercised revisionary powers under Section 263 of the Income Tax Act. The assessee challenged the revision of the assessment order passed under Sections 147 and 144, arguing that it was beyond the statutory limitation. The appeal was delayed by 353 days due to incorrect legal advice received by the company’s director. The ITAT found that the PCIT’s jurisdiction to revise the order...
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Author Bio
SIR thanks for sharing another interesting case