Revisionary jurisdiction u/s. 263 not invocable as twin pre-conditions not satisfied

Adani Infrastructure and Developers Private Limited Vs PCIT (ITAT Ahmedabad)

ITAT Ahmedabad held that assessment order passed u/s. 143(3) is neither erroneous nor prejudicial to the interest of revenue. Hence, revisionary jurisdiction u/s. 263 of the Income Tax Act not justifiable as twin pre-conditions not satisfied.

Facts- The assessment order in this case has been passed by the Income- tax Department, National e-assessment Centre, Delhi u/s 143(3) r.w.s. 143(3A) & 143(3B) of the Act on 16.04.2021 determining the total loss of Rs.35,36,60,186/- against

Please become a Premium member. If you are already a Premium member, login here to access the full content.