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Pending appeal no bar for Section 263 action on unrelated issues: ITAT Pune
Case Law Details
- Case Name
- Yashwantrao Chavan Maharashtra Open University Vs CIT (ITAT Pune)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2021-22
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Yashwantrao Chavan Maharashtra Open University Vs CIT (ITAT Pune)
Pending appeal no bar for 263 action on unrelated issues – CIT can revise u/s 263 even if appeal pending – Mercantile System means accrued interest taxable
Assessee, a university functioning as a local authority & engaged in providing education facilities, filed its return declaring nil income after claiming exemption u/s 11. During scrutiny, it admitted a clerical error in Form 9A-reporting ₹42.12 crore instead of ₹15.44 crore as accrued interest income. AO, after considering submissions, excluded the accr...
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