Revision of order not being erroneous & prejudicial to interest of revenue unjustified

Advertisement Tata NYK Shipping Pte. Ltd. Vs CIT (ITAT Delhi) ITAT Delhi held that revision of assessment order unjustifiable as the assessment order cannot be considered to be erroneous and prejudicial to the interest of revenue. Facts- The assessee is a non-resident corporate entity incorporated in Singapore in 2007 and a tax resident of Singapore. The assessee is engaged in the business of owning, operating, and chartering ships to transport dry bulk and break-bulk cargo, such as coal, iron ore, bauxite, and steel products etc. The assessee is a joint venture between Tata Steel Company, ...