Revisional jurisdiction u/s 263 rightly invoked as order passed without satisfying mandatory provisions of section 92CA: ITAT Mumbai

JP Morgan Chase Bank N.A J.P Morgan Tower Vs CIT (ITAT Mumbai) ITAT Mumbai held that assessment order passed without satisfying mandatory provisions of section 92CA and CBDT instruction no. 3 of 2016 is order falling within the meaning of erroneous and prejudicial to the interest of revenue. Hence, revisional jurisdiction u/s. 263 of the Income Tax Act rightly invoked. Facts- The present appeal is preferred by the assessee contesting invocation of revisional jurisdiction. It is alleged that the CIT has invoked revisional jurisdiction primarily on the ground that AO was mandatorily required to ...