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Section 263 Invalid Where AO Adopted Plausible View on Bogus Purchases: Gujarat HC
Case Law Details
- Case Name
- PCIT Vs Bhagat Marketing Pvt. Ltd. (Gujarat High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2016-17
- Courts
- All High Courts, Gujarat High Court
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PCIT Vs Bhagat Marketing Pvt. Ltd. (Gujarat High Court)
The Gujarat High Court dismissed the Revenue’s tax appeal filed under Section 260A of the Income Tax Act, 1961 against the Income Tax Appellate Tribunal’s order dated 14.10.2024 for Assessment Year 2016-17. The Revenue challenged the Tribunal’s decision setting aside the Principal Commissioner of Income Tax’s (PCIT) revisional order passed under Section 263, contending that the Assessing Officer (AO) had erred in making an addition of only 12.5% of the alleged bogus purchases instead of adding the entire amount und...
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