https://www.taxtmi.com/caselaws?id=462467 Gujarat HC upheld Tribunal's decision dismissing PCIT's revision under Section 263. PCIT directed AO to disallow payments under Section 40(a)(ia) for tax deducted but allegedly not deposited. Court held that once assessee demonstrated payee offered amount as income and tax was paid via Form 26A certificate, no default existed. Assessment order reflected possible view, not erroneous one prejudicial to revenue. Twin conditions for Section 263 jurisdiction not satisfied. Decided in favor of assessee. en-us Tue, 09 Jan 2024 00:00:00 +0530 Tue, 24 Jun 2025 15:45:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462467 Gujarat HC upheld Tribunal's decision dismissing PCIT's revision under Section 263. PCIT directed AO to disallow payments under Section 40(a)(ia) for tax deducted but allegedly not deposited. Court held that once assessee demonstrated payee offered amount as income and tax was paid via Form 26A certificate, no default existed. Assessment order reflected possible view, not erroneous one prejudicial to revenue. Twin conditions for Section 263 jurisdiction not satisfied. Decided in favor of assessee. Case-Laws Income Tax Tue, 09 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462467