https://www.taxtmi.com/caselaws?id=771772 ITAT Ahmedabad dismissed the assessee's appeal regarding revision under section 263. The AO correctly invoked section 271AAC(1) in the reassessment order but erroneously issued penalty notice under section 271(1)(c). The revisionary authority properly exercised jurisdiction under section 263 by directing the AO to issue correct penalty notice and modify the reassessment order. The tribunal found no interference was required with the revisionary authority's decision to rectify the procedural error. en-us Tue, 27 May 2025 00:00:00 +0530 Fri, 30 May 2025 08:55:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771772 ITAT Ahmedabad dismissed the assessee's appeal regarding revision under section 263. The AO correctly invoked section 271AAC(1) in the reassessment order but erroneously issued penalty notice under section 271(1)(c). The revisionary authority properly exercised jurisdiction under section 263 by directing the AO to issue correct penalty notice and modify the reassessment order. The tribunal found no interference was required with the revisionary authority's decision to rectify the procedural error. Case-Laws Income Tax Tue, 27 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771772