Act of AO Prejudicial to Interests of Revenue: ITAT upholds Revision Order of PCIT [Read Order]

Act - AO-Prejudicial - Interests - Revenue-ITAT - Revision - PCIT-TAXSCAN

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that the act of the assessing officer is prejudicial to the interests of revenue, therefore it upheld the revision order of the Principal Commissioner of Income Tax (PCIT). The assessee is a company and filed the return of income declaring a loss of Rs.563/-. The…

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