Revisionary power u/s 263 invocable as old tax rates applied instead of amended rates

Agya Ram Manohar Lal Vs PCIT (ITAT Chandigarh) ITAT Chandigarh held that AO erred in applying the rate of tax as 30% under section 115BBE instead of amended rate of tax 60%. Accordingly, revisionary power under section 263 rightly applied as order passed was erroneous and prejudicial to the interest of revenue. Facts- The assessment of the assessee was completed u/s. 153A on 28/12/2019 at an assessed income of Rs. 1,98,50,680/- by making an addition of Rs. 1,36,18,520/- as normal business income and Rs. 42,04,640/- u/s. 69C of the Act and Rs. 12,46,878/- u/s. 69 of the Act. PCIT(C) observed th...