Reasonable view of AO cannot be displaced in revisionary proceedings by any untenable or debatable view

Anil Rambhai Mevada Vs PCIT (ITAT Ahmedabad)

Facts-

The assessee, an individual, filed its original ROI for A.Y. 2015-16 declaring a total income of Rs.14,89,200/-. The case was selected for scrutiny through CASS under ‘limited scrutiny’ category. As per the scrutiny notice, the case was selected for examination of following issues:-

1) Whether capital gain/loss on sale of property has been correctly shown in the return of income.Please become a Premium member. If you are already a Premium member, login here to access the full content.