Held that the Assessing Officer has raised specific query as regards allowability of Mark to Market (MTM) loss. Moreover the MTM loss was reversed in the subsequent year. Revision order is quashed. (AY. 2015-16)
Tata Teleservices (Maharashtra)Ltd v. PCIT(2023) 225 TTJ 137 (Mum)(Trib)
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Mark to Market (MTM)-Specific query in the course of assessment proceedings-Loss was reversed in subsequent year-Revision order is quashed. [ S. 43(5)(d), 143(3)]