No Revision Without Error: ITAT Rejects Section 263 Action

Vikash Kumar Bohra Vs PCIT (ITAT Kolkata) No Erroneous or Prejudicial Assessment Where Facts Misread by PCIT- ITAT Kolkata Quashes Section 263 Revision: The Kolkata Bench of the Income Tax Appellate Tribunal allowed the appeal of Vikash Kumar Bohra for AY 2018–19, quashing the revisionary order passed by the PCIT under Section 263, holding that the mandatory twin conditions—“erroneous” and “prejudicial to the interests of the Revenue”—were not satisfied. The PCIT had invoked Section 263 on two grounds:(i) alleged wrongful allowance of car-related expenses of ₹1.12 lakh on the p...