ITAT Quashes PCIT’s Order u/s 263 Against Bharti Airtel, Holds Interest and Penalty on License Fee as Revenue Expenditure [Read Order]

This ruling asserts the limits of revisionary powers under Section 263. By quashing the PCIT’s order, the ITAT has affirmed the sanctity of reasoned assessments and the avoidance of overreach by tax authorities
By Eeva Mary Sanil - On April 3, 2025 10:54 am - 2 mins read
ITAT ruling - PCIT order - Bharti Airtel tax - taxscan

In a recent ruling, the Delhi Bench of the Income Tax Appellate Tribunal (ITAT) quashed the revisionary order passed by the Principal Commissioner of Income Tax (PCIT) under Section 263 of the Income Tax Act, 1961, against Bharti Airtel Limited. The tribunal held that interest and penalty paid on license fees qualify as revenue expenditure…

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