Assessee is an individual and his assessment U/Sec. 143(3) was completed for A_Y. 2016-17. Later on it was reopened U/Sec 147 on the ground that claim of Interest paid and allowed as deudction U/Sec 56 and assessment was completed U/Sec. 147 r.w.s. 143 (3) Assessing at same income which was earlier accepted U/sec 143(3). Again Notice U/Sec. 263 was issued on the ground that claim of interest paid and allowed by the AO is incorrect and therefore order is erroneous and prejudicial to the int of revenue and without appreciation of submission passed the order U/sec. 263 holding order passed…
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Sec. 263 of the Act .