Functional comparability governs selection of support-service and IT-enabled service comparables, with verification required for unresolved data and m...
Bank account freezing requires statutory authority; anti-money-laundering compliance and KYC monitoring do not permit unilateral indefinite restrictio...
ITAT allowed the assessee's appeal and quashed the revisionary order u/s 263 passed by the PCIT. It held that the computation sheet forming part of the assessment order correctly reflected the net LTCG after reducing the LTCG already disclosed in the return, and that only the narrative portion of the assessment order contained an incorrect gross LTCG figure. As there was no error in the actual computation to render the assessment order erroneous or prejudicial to the interest of Revenue, the assumption of jurisdiction u/s 263 was held invalid.
ITAT allowed the assessee's appeal and quashed the revisionary order u/s 263 passed by the PCIT. It held that the computation sheet forming part of the assessment order correctly reflected the net LTCG after reducing the LTCG already disclosed in the return, and that only the narrative portion of the assessment order contained an incorrect gross LTCG figure. As there was no error in the actual computation to render the assessment order erroneous or prejudicial to the interest of Revenue, the assumption of jurisdiction u/s 263 was held invalid.
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