2025 (6) TMI 2089

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.... Desai, A/R For the Revenue : Shri Arun Kanti Datta, CIT, D/R ORDER PER NARENDRA KUMAR BILLAIYA, AM: This appeal by the assessee is preferred against the order of ld. Pr. CIT, Mumbai - 5 [hereinafter "the ld. Pr. CIT"] dated pertaining to AY 2018-19. 2. The sum and substance of the grievance of the assessee is that the ld. Pr. CIT erred in assuming jurisdiction u/s 263 of ....

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.... exception not considered as business related. The ld. Pr. CIT further supported his belief by the explanatory notice to the Finance Bill, 2014 (CBDT Circular No. 1/2015 dated 21/01/2015). 6. We have given a thoughtful consideration to the order of the ld. Pr. CIT. We are of the considered view that the issue raised by the ld. Pr. CIT is a highly debatable issue as the Co-ordinate Benches of th....

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....tore that of the AO dated 21/09/2022. 8. In the result, appeal of the assessee is allowed. Order pronounced in the Court on 20th June, 2025 at Mumbai. ============= Document 1 GOVERNMENT OF INDIA MINISTRY OF FINANCE INCOME TAX DEPARTMENT OFFICE OF THE PRINCIPAL COMMISSIONER OF INCOME TAX PCIT, Mumbai-5 To. RPG LIFE SCIENCES LIMITED RPG HOUSE, 4TH FLOOR DR ANNIE BESANT ROAD , Worli Co....

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....said due date, then your personal attendance is not required. You also have the option to file your submission from the e filing portal using the link: incometaxindiaefiling.gov.in MENT In this case, opportunity of being heard was given to the assessee regarding the revision petition u/s 263 of the Income Tax=Act. 1961 vide notice dated 06.03.2025 fixing the haring on 12.03.2025. In response....