Plausible View Adopted by AO Cannot Be Revised – Pune ITAT on 263 Jurisdiction

Sharada Erectors Private Limited Vs PCIT (ITAT Pune) Plausible View Adopted by AO Cannot Be Revised – Pune ITAT on 263 Jurisdiction Assessee, engaged in construction, leasing of premises & generation of wind power, filed return declaring loss of ₹1.62 crore for AY 2020-21. Scrutiny was completed u/s 143(3) accepting returned loss after examining details. PCIT, Pune-3 invoked revision u/s 263 alleging that AO had failed to properly enquire into multiple issues, rendering order erroneous & prejudicial to Revenue. The disputed issues included disallowance u/s 14A, gratuity provision u...