PCIT Oversteps Revisional Powers by Extending Scope Beyond Turnover Suppression in Section 147 Proceedings.

PCIT Oversteps Revisional Powers by Extending Scope Beyond Turnover Suppression in Section 147 Proceedings. https://www.taxtmi.com/highlights?id=52158 Revision u/s 263 - PCIT having accepted the fact that the Ld.AO has examined the issue of suppression of turnover should have confined the scope of his revisional powers to the issue, which he had questioned in his show cause notice, rather than going to the issue of various expenditure, which is not at all a subject matter of proceedings u/s 147 of the I.T.Act, 1961. - AT en-us Thu, 05 Mar 2020 14:18:52 +0530 Thu, 05 Mar 2020 14:18:52 +0530 TaxTMI RSS Generator PCIT Oversteps Revisional Powers by Extending Scope Beyond Turnover Suppression in Section 147 Proceedings. https://www.taxtmi.com/highlights?id=52158 Revision u/s 263 - PCIT having accepted the fact that the Ld.AO has examined the issue of suppression of turnover should have confined the scope of his revisional powers to the issue, which he had questioned in his show cause notice, rather than going to the issue of various expenditure, which is not at all a subject matter of proceedings u/s 147 of the I.T.Act, 1961. - AT Highlights Income Tax Thu, 05 Mar 2020 14:18:52 +0530 https://www.taxtmi.com/highlights?id=52158