https://www.taxtmi.com/caselaws?id=771876 ITAT Delhi upheld CIT's revision order u/s 263 directing AO to conduct fresh assessment after disallowing all P&L expenses except those required for maintaining corporate identity like statutory auditor fees and registrar fees. The tribunal found AO failed to properly enquire or verify the expenses claimed, making the assessment order erroneous and prejudicial to revenue interests under Explanation 2(a) to section 263. Following precedent in Rajpal Singhal case, ITAT dismissed assessee's appeal, confirming CIT's jurisdiction to set aside the defective assessment order. en-us Tue, 20 May 2025 00:00:00 +0530 Sat, 31 May 2025 08:47:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771876 ITAT Delhi upheld CIT's revision order u/s 263 directing AO to conduct fresh assessment after disallowing all P&L expenses except those required for maintaining corporate identity like statutory auditor fees and registrar fees. The tribunal found AO failed to properly enquire or verify the expenses claimed, making the assessment order erroneous and prejudicial to revenue interests under Explanation 2(a) to section 263. Following precedent in Rajpal Singhal case, ITAT dismissed assessee's appeal, confirming CIT's jurisdiction to set aside the defective assessment order. Case-Laws Income Tax Tue, 20 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771876