Case Law Details
Rits Jewellers Pvt. Ltd. Vs PCIT (ITAT Delhi)
ITAT Delhi held that where two views are possible and AO adopted the one which Commissioner doesn’t agree then in such case revision under section 263 of the Income Tax Act not permissible for mere difference of view.
Facts-
An order u/s 263 of the Act came to be passed against the assessee on 29/03/2019 by the Principal Commissioner of Income Tax, Faridabad (“PCIT”) declaring that the assessment order passed u/s 143(3) read with 147 of the Act dated 19/04/2016 is erroneous and also prejudicial to the interest of Revenue, thus cancelled the assessment order. Further, the Ld. PCIT directed the A.O to make proper enquiries to verify the issue before completing the assessment with a direction to pass fresh assessment order.
Aggrieved by the order dated 29/03/2019, the assessee has preferred the present appeal.
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