| Question And Answer | |
|---|---|
| Subject: | 263 Revision |
| Category: | Income-Tax |
| Querist: | bs |
| Answered by: | Advocate Shashi Ashok Bekal |
| Tags: | Order of ITAT, Reassessment, rectification, Revision, Revision of assessment |
| Date: | January 13, 2023 |
After ITAT quashed order u/s 263 passed by pcit , AO issues notice u/s 154 on same point, what can be the remedy with Assessee?
Does it partake contempt of order of ITAT ? any case law?
The facts of the case would have to be studied. Where proceedings under section 263 of the Act were quashed because the Ld. AO has taken a view which is a possible view, merely because it is prejudicial to the interest of the revenue would not result in revisionary proceedings. Since the Ld. Ao has taken a possible view, taking a new view would amount to a change of opinion. The scope of rectification under Section 154 of the Act is limited to only mistakes apparent from the record and a debatable issue is not a mistake apparent from the record.
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