ITAT Pune Quashes Section 263 Revision; Upholds 80P Deduction on Bank Interest

Dharmaveer Sambhaji Nagari Sahakari Pat Maryadit Vs PCIT (ITAT Pune)

Revision Under Section 263 Quashed – ITAT Pune Upholds 80P Deduction on Bank Interest and Bars PCIT from Substituting His View

The Pune Bench of the ITAT allowed the assessee-society’s appeal and quashed the revisionary order passed u/s 263, holding that the Principal CIT had wrongly assumed jurisdiction by merely substituting his opinion for a

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