Section 263 Fails Where AO Conducted Enquiry in Limited Scrutiny

Catholic Education Society Vs Income Tax Department CIT (Exemption) (ITAT Mumbai) No 263 on “Inadequate Enquiry” in Limited Scrutiny: ITAT Mumbai Quashes Revision Against Catholic Education Society The Mumbai ITAT “C” Bench, comprising Shri Sandeep Gosain (JM) & Shri Girish Agrawal (AM), allowed the appeal of Catholic Education Society for AY 2020-21 and quashed the revisionary order passed u/s 263 by the CIT(E), holding that the assessment order was neither erroneous nor prejudicial to the interests of the Revenue. The Assessee, a long-standing charitable trust registered u/s 12A ...