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Reopening on incorrect assumption of fact is invalid, hence subsequent revision order u/s 263 bad-in-law

POONAM GANDHI 16 Mar 2023 2,661 Views 0 comment Print Income Tax | Judiciary

Case Law Details

Case Name : Pantime Finance Company Pvt. Ltd. Vs ITO (ITAT Mumbai)

Appeal Number : ITA No. 636/Mum/2021

Date of Judgement/Order : 21/02/2023

Related Assessment Year : 2012-13

Courts : All ITAT ITAT Mumbai

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Pantime Finance Company Pvt. Ltd. Vs ITO (ITAT Mumbai)

ITAT Mumbai held that as entire reasons for reopening were recorded by incorrect assumption of facts, accordingly, reopening was invalid and bad-in-law. Hence, subsequent invocation of revisional jurisdictional under section 263 of the Income Tax Act is

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Name: POONAM GANDHI

Qualification: CA in Practice

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Location: AHMEDABAD, Gujarat, India

Member Since: 14 Feb 2019 | Total Posts: 5493

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