Section 263 Quashed Where Assessing Officer Conducted Proper Enquiry

J.M. Housing Limited Vs PCIT (Central) (ITAT Delhi) No Remission, No 41(1): Adequate Enquiry Means No 263: PCIT Can’t Rewrite Assessment on Change of View- PCIT Overreach Quashed In J.M. Housing Ltd. Vs. Pr.CIT (Central), Kanpur (at Meerut), ITA No.8248/Del/2025, AY 2021-22, order dated 31.12.2025, Delhi ITAT quashed revision u/s 263 & restored original assessment. Assessee had filed return declaring loss of ₹38.75 crore. Assessment was completed u/s 143(3) on 19.12.2022, wherein AO made addition of ₹12.48 crore u/s 68 r.w.s. 115BBE in respect of high-value trade creditors after issu...