Hill Queen Investment (P.) Ltd. v. PCIT (2021) 189 ITD 139 (Kol.) (Trib.)

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Purchase and sale of shares-Bogus sales-Possible view-Revision was quashed. [S. 68]

Tribunal held that since Assessing Officer had called for and verified all details and documents in connection with purchase and sale of shares in question and after examining same, had taken a possible view that transactions were genuine, revision of assessment order is bad in law. (AY. 2015-16)