Section 263 Upheld as AO Failed to Verify TDS Rates & Delayed PF/ESI Payments

Course 5 Intelligent Ltd Vs PCIT (ITAT Bangalore) No Escape from 36(1)(va): Assessee Concedes, Tribunal Confirms PCIT’s Revision; Revision Sustained Due to Non-Verification of TDS on Major Payments; PCIT Correct in Reopening Assessment Where Employee PF/ESI Was Remitted Late; Assessee’s Concession on PF/ESI and TDS Verification Leads to Confirmation of 263 Order; AO’s Lack of Enquiry on TDS Deduction Justifies Section 263 Invocation; Claim of Section 10AA Exemption Rejected as It Was Never Raised Before PCIT; Verification of TDS on Professional Fees and Rent Mandated—263 Revision Stand...