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Section 263 Order Quashed: Adverse Material Not Shared on Alleged Bogus Purchases
Case Law Details
- Case Name
- JCIT Vs ACP Tollways Private Limited (ITAT Lucknow)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2021-22
- Courts
- All ITAT, ITAT Lucknow
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JCIT Vs ACP Tollways Private Limited (ITAT Lucknow)
ITAT Quashes PCIT Order for Violating Natural Justice by Withholding Evidence; Genuine Purchases Ignored: ITAT Voids PCIT’s Revision for Misuse of Powers; PCIT’s 263 Order Quashed for Withholding Adverse Material & Ignoring Evidence on Genuine Purchases
In this case, assessment u/s 143(3) r.w.s. 144B was completed for A.Y. 2020-21 & a minor disallowance of Health & Education Cess was made. Later, PCIT invoked revisionary jurisdiction u/s 263 alleging that Assessee purchased iron ore fines of ₹3.94 crore ...
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