SC Upholds HC Ruling Due to Non-Application of Mind in Section 263 Revision Order

PCIT 1 Vs Britannia Industries Limited (Supreme Court of India) The case concerns an appeal by the Revenue against an order of the Income Tax Appellate Tribunal (ITAT) for Assessment Year 2018–19, where the Tribunal had set aside a revisionary order passed by the Principal Commissioner of Income Tax (PCIT) under Section 263 of the Income Tax Act, 1961. The Calcutta High Court examined whether the PCIT had validly exercised jurisdiction under Section 263 and whether the Tribunal was justified in quashing the revision order. Read HC Judgment in this case: Section 263 Invalid as PCIT Acted on ...