The Income Tax Appellate Tribunal (ITAT), Kolkata Bench has held that Principal Commissioner of Income Tax (PCIT) fails to record the reason for revision and quashes order u/s 263 The appellant, Diamond Beverages Private Limitedincurred a sum of Rs.7,50,000/- as Corporate Social Responsibility (CSR) Expenditure during the relevant year. The appellant claimed it under section…
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