The AO passed the assessment order u/s 143 (3) of the Act . The PCIT has issued show cause notice for revision of seven issues such as mismatch of TDS , expenditure on exempt income , allowability of business expenditure , payment to related parties , allowability of depreciation ,transfer pricing etc . Appellate Tribunal after discussing each and every issue in details held that the order passed by the AO is not erroneous hence quashed the revision order passed by the PCIT .( AY. 2014 -15)
Eveready Industries India Ltd. v. PCIT (2020) 181 ITD 528 / 114 taxmann.com 610 (Kol) (Trib.)
S. 263 : Commissioner – Revision of orders prejudicial to revenue – TDS Mismatch – PCIT has issued show cause notice for seven issues and passed the revision order – Appellate Tribunal quashed the revision order after discussion all seven issues [ S .4 ,14A 37(1) 40A(2) 41(1) 43(6) 48 , 50C ,80IC ,92CA ]