Composite residential flat exemption upheld where supplementary agreement merged adjoining units and additional evidence supported the taxpayer's inve...
Urgent interim relief exception permits commercial suit without pre-institution mediation where immediate disclosure and asset protection are genuinel...
Revision u/s 263 - another possible view of the matter - The appellant challenged the jurisdiction of the PCIT, arguing that the original assessment order by the AO was not erroneous and did not prejudice the revenue. - The ITAT found that the AO had duly examined the submissions and evidence before concluding the assessment. The PCIT's order was deemed unsustainable as it was based on grounds not part of the initial reasons for scrutiny and lacked sufficient basis. Consequently, the Tribunal set aside the PCIT's order and upheld the decision of the AO.
Revision u/s 263 - another possible view of the matter - The appellant challenged the jurisdiction of the PCIT, arguing that the original assessment order by the AO was not erroneous and did not prejudice the revenue. - The ITAT found that the AO had duly examined the submissions and evidence before concluding the assessment. The PCIT's order was deemed unsustainable as it was based on grounds not part of the initial reasons for scrutiny and lacked sufficient basis. Consequently, the Tribunal set aside the PCIT's order and upheld the decision of the AO.
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