Revision u/s. 263 not tenable when AO has taken plausible view: ITAT Delhi

SSG Infratech Private Limited Vs PCIT (ITAT Delhi)

ITAT Delhi held that revision under section 263 of the Income Tax Act not tenable as PCIT failed to specify definite error in the order and also AO has made proper inquiry and has taken plausible view.

Facts- The assessee is a private limited company. Post completion of assessment u/s. 143(3)/153A, reassessment u/s. 148 was initiated. However, AO accepted the contention of the assessee and passed order u/s. 143(3)/ 147. Thereafter, PCIT, after considering the replies of the assessee, vide impugned order date

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