Steel Scrap or Tax Trap? ITAT Slams PCIT’s Overreach in Ahmedabad Bizman’s Case [Read Order]

The tribunal concluded that the PCIT’s order was unsustainable, as the AO had taken a legally plausible view after due verification

By Adwaid M S - On April 23, 2025 8:28 pm - 2 mins read

Steel Scrap - Tax Trap - ITAT - ITAT Slams - taxscan

The Income Tax Appellate Tribunal (ITAT), Ahmedabad, overturned a revision order by the Principal Commissioner of Income Tax (PCIT) against Vivaa Tradecom Pvt. Ltd., ruling that the tax authority overstepped its powers under Section 263 of the Income Tax Act, 1961. The case involved alleged bogus transactions in steel scrap trading during the 2015-16 assessment…

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