ITAT Quashes PCIT’s Order u/s 263 for Relying on Audit Objection [Read Order]

ITAT held that the PCIT’s invocation of Section 263 based solely on audit objections, without independent application of mind was invalid
By Nandan GK - On April 2, 2025 12:12 pm - 3 mins read
ITAT ruling - Section 263 IT Act - PCIT revision power - taxscan

The Chandigarh bench of the Income Tax Appellate Tribunal (ITAT) held that Section 263 of the Income Tax Act, 1961, which empowers the Principal Commissioner of Income Tax (PCIT) to revise assessments, cannot be invoked solely on the basis of an audit objection. In March 2018, the assessee, Vaneet Gupta, was served an income tax…

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