PCIT can’t exercise revisionary jurisdiction u/s 263 where AO has taken a Plausible view of Evidences produced by Assessee: ITAT [Read Order]

revisionary jurisdiction - Evidences produced by Assessee - ITAT - PCIT - taxscan

The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) held that the Principal Commissioner of Income Tax (PCIT) cannot exercise the revisionary jurisdiction under Section 263 of the Income Tax Act, 1961 where the Assessing Officer has taken a plausible view of evidence and documents on record produced by the assessee. The assessee filed…

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