Tribunal held that CIT(A) has taken the view that S. 115JB is not applicable to assessee hence revision is not valid. As regards deduction of bad debts the Order was passed by the Assessing officer after considering detailed submissions hence revision is not valid. On the adjustment of transfer pricing the assessment was made without reference to TPO hence the revision order is valid. (AY. 2014-15)
Bank of India v JCIT (2021) 210 TTJ 626 (Mum.)(Trib.)
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Merger-Nationalised bank-CIT(A) has held that S. 115JB is not applicable to assessee-Revision is not valid-Deduction of bad debts-Order was passed after considering detailed submissions-Revision is not valid-Assessment made without reference to TPO-Revision order is valid. [S. 36(1)(vii), 36(1)(viia), 92CA, 115JB, 144C]