https://www.taxtmi.com/caselaws?id=771502 ITAT Raipur dismissed the assessee's appeal challenging PCIT's revision order u/s 263. The Tribunal held that non-verification of return filed u/s 148 rendered it invalid, making assessment u/s 147 r/w 144B valid without requiring notice u/s 143(2). Regarding revision jurisdiction, while addition u/s 68 was under appeal, PCIT could still exercise powers u/s 263 for separate issues of applying special tax rate u/s 115BBE and correct penalty provision u/s 271AAC instead of 271(1)(c). The AO's failure to apply mandatory provisions of section 115BBE on addition u/s 68 made the assessment order erroneous and prejudicial to revenue interest, justifying PCIT's revisionary jurisdiction. en-us Wed, 08 Jan 2025 00:00:00 +0530 Tue, 27 May 2025 08:32:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771502 ITAT Raipur dismissed the assessee's appeal challenging PCIT's revision order u/s 263. The Tribunal held that non-verification of return filed u/s 148 rendered it invalid, making assessment u/s 147 r/w 144B valid without requiring notice u/s 143(2). Regarding revision jurisdiction, while addition u/s 68 was under appeal, PCIT could still exercise powers u/s 263 for separate issues of applying special tax rate u/s 115BBE and correct penalty provision u/s 271AAC instead of 271(1)(c). The AO's failure to apply mandatory provisions of section 115BBE on addition u/s 68 made the assessment order erroneous and prejudicial to revenue interest, justifying PCIT's revisionary jurisdiction. Case-Laws Income Tax Wed, 08 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771502