Section 263 Order of AO must be erroneous & prejudicial to interest of revenue

CMJ Breweries Private Limited Vs Union of India (Gauhati High Court) it is submitted by Dr. Saraf that the pre-condition to be present for invoking the Section 263 of the IT Act is absent in this case inasmuch as there is no prima facie satisfaction by the Principal Commissioner on the basis of the materials available as to whether the order of the Assessing Officer which is sought to be reviewed under Section 263 of the IT Mr. S Sarma, learned counsel for the Income Tax Department prays for an adjournment to examine the matter. Prayer is allowed. List again on 26.08.2021. Till then, no action...