PCIT's Use of Section 263 Challenged for Ignoring Assessee's TDS Explanations on Non-Taxable Mobilization Advances.

PCIT's Use of Section 263 Challenged for Ignoring Assessee's TDS Explanations on Non-Taxable Mobilization Advances. https://www.taxtmi.com/highlights?id=66195 Revision u/s 263 by CIT - the assessee had duly explained as to why certain receipts though subjected to TDS, would not be liable to be offered to tax such as mobilization advance. This had been completely ignored by the ld. PCIT while exercising his revision jurisdiction u/s 263 of the Act. - the revision jurisdiction u/s 263 of the Act had been exercised by the ld. PCIT in a mechanical and cavalier manner - AT en-us Sat, 22 Oct 2022 10:05:25 +0530 Sat, 22 Oct 2022 10:05:25 +0530 TaxTMI RSS Generator PCIT's Use of Section 263 Challenged for Ignoring Assessee's TDS Explanations on Non-Taxable Mobilization Advances. https://www.taxtmi.com/highlights?id=66195 Revision u/s 263 by CIT - the assessee had duly explained as to why certain receipts though subjected to TDS, would not be liable to be offered to tax such as mobilization advance. This had been completely ignored by the ld. PCIT while exercising his revision jurisdiction u/s 263 of the Act. - the revision jurisdiction u/s 263 of the Act had been exercised by the ld. PCIT in a mechanical and cavalier manner - AT Highlights Income Tax Sat, 22 Oct 2022 10:05:25 +0530 https://www.taxtmi.com/highlights?id=66195