Revisionary jurisdiction u/s. 263 not invocable as AO took plausible view

Kusum Gupta Vs PCIT (ITAT Kolkata) ITAT Kolkata held that PCIT cannot exercise the revisionary jurisdiction to set aside the assessment where the AO has conducted enquiries and taken a plausible view accepting the contentions of the assessee. Facts- The only issue raised by the assessee is against the invalid exercise of jurisdiction u/s 263 of the Act by the PCIT thereby passing revisionary order u/s 263 of the Act and setting aside the assessment framed by the AO u/s 143(3) of the Act dated 27.07.2016. Conclusion- Held that in our opinion, the PCIT cannot exercise the revisionary jurisdictio...