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Informative

Discrepancy in Net Profit Figures: ITAT Quashes Pr. CIT’s Revision Order due to Prior AO Inquiry

Update / Judgement Date

12 Mar 2025

Source

Taxscan

Author

Team — WCP Legal Desk

Reading Time

1 min read

Income TaxOther Legal Matters

The ITAT has quashed a Principal Commissioner of Income Tax's revision order due to a prior Assessing Officer inquiry, citing a discrepancy in net profit figures. The tribunal emphasized the need for consistent assessment. This decision protects taxpayers from unwarranted revisions. The ruling clarifies the scope of revision orders.