Revision proceeding u/s. 263 not tenable as order not erroneous or prejudicial to interest of revenue

Shyam Buildstructure Private Limited Vs ITO (ITAT Jaipur)

ITAT Jaipur held that newly inserted Explanation 2(a) to Sec. 263 does not give unfettered powers to Commissioner to revise each order. Held that revisionary proceeding u/s. 263 not justified as order not erroneous or prejudicial to interest of revenue.

Facts- Vide the present appeal, the appellant has contested invocation of revisionary proceedings under section 263 by the PCIT. The appellant has mainly contested that PCIT has erred in holding that assessment order passed by AO under section 147 was

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