Court Quashes Tax Order Revision on Unsold Flats: Finance Act Amendment Not Applicable Pre-April 2018.

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....Revision u/s 263 - SCN related to taxability of unsold flats - amendment introduced by the Finance Act, 2017 w.e.f. 1/4/2018 - When the assessment order was passed on 31.03.2016, relevant provision has not even been brought into statute book - AO cannot be expected to apply the same - the assessment order cannot be said to be erroneous and prejudicial to the interest of the Revenue - order of the CIT quashed....