No revisional jurisdiction u/s. 263 as issue examined during assessment proceeding: ITAT Ahmedabad

Kaivan Jitendrakumar Shah HUF Vs PCIT (ITAT Ahmedabad) ITAT Ahmedabad held that revisional jurisdiction u/s. 263 of the Income Tax Act not justifiable as AO had examined the issue in the course of assessment proceeding. Facts- The case of the assessee was reopened u/s. 147 of the Act with the issuance of notice under Section 148 of the Act dated 30.03.2021. The revised assessment was completed u/s 147 r.w.s. 144B of the Act dated 21.03.2022 and the return of income as shown by the assessee was accepted. Subsequently, PCIT noticed that the issue on which the case was reopened was not properly ...