Revision u/s. 263 quashed as order neither erroneous nor prejudicial to interest of revenue

Chennai Business Tower Private Limited Vs PCIT-4 (ITAT Chennai)

ITAT Chennai held that revisionary powers exceeded by PCIT since rectification order passed by AO is neither erroneous nor prejudicial to the interest of revenue. Accordingly, order of PCIT u/s. 263 quashed.

Facts- The only issue contested by the assessee through its five grounds of appeal, is regarding the invocation of revisionary jurisdiction u/s.263 of the Act by the PCIT- 4. It is the case of the assessee that the impugned order of the AO passed u/s.154 of Act dated 02.06.2022 does not qual

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