Section 263 Invalid as AO Conducted Proper Inquiry & Took Plausible View: ITAT Surat

Dayaram Brijbhukhandas Vs Income Tax Department (ITAT Surat) The Income Tax Appellate Tribunal (ITAT), Surat, decided three appeals filed by different assessees against separate orders dated 22.07.2025 passed by the Principal Commissioner of Income Tax (Pr. CIT), Valsad under Section 263 of the Income Tax Act, 1961 for Assessment Year 2017–18. In all three cases, the assessees challenged the invocation of revisionary jurisdiction under Section 263, contending that the mandatory twin conditions—namely that the assessment order must be both “erroneous” and “prejudicial to the interests...