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Informative

Proper Enquiry done by AO: ITAT quashes Revision Order u/s 263 of Income Tax Act

Update / Judgement Date

27 Aug 2024

Source

Taxscan

Author

Team — WCP Legal Desk

Reading Time

1 min read

Appeal Against OrderDue DiligenceIncome Tax

The Income Tax Appellate Tribunal (ITAT) quashed a revision order issued under Section 263 of the Income Tax Act, ruling that the Assessing Officer (AO) had conducted a proper and thorough enquiry before making the assessment. The tribunal found that the revision order was unwarranted, as there was no error or prejudice in the original assessment. This decision reinforces the importance of due diligence by tax authorities and limits unnecessary revisions.