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Section 263 Revision Quashed as AO Took Plausible View After Enquiry: Chandigarh ITAT
Case Law Details
- Case Name
- Arihant Roller Flour Mills Vs ITO (ITAT Chandigarh)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2018-19
- Courts
- All ITAT, ITAT Chandigarh
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Arihant Roller Flour Mills Vs ITO (ITAT Chandigarh)
The ITAT Chandigarh allowed the assessee’s appeal and quashed the revisionary order passed under Section 263, holding that revision is impermissible where the Assessing Officer has conducted detailed enquiries, applied his mind and adopted a plausible view. The reassessment, initiated to examine alleged bogus purchases of Rs. 2.48 crore and bogus sales of Rs. 2.61 crore, followed directions of the Punjab & Haryana High Court for a fresh assessment. During the fresh proceedings, the Assessing Officer issued multiple noti...
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