{"id":13962,"date":"2020-11-22T04:41:43","date_gmt":"2020-11-22T04:41:43","guid":{"rendered":"https:\/\/itatonline.org\/digest\/arihant-technology-p-ltd-v-pcit-202079-itr-119-delhi-trib\/"},"modified":"2020-11-22T04:41:43","modified_gmt":"2020-11-22T04:41:43","slug":"arihant-technology-p-ltd-v-pcit-202079-itr-119-delhi-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/arihant-technology-p-ltd-v-pcit-202079-itr-119-delhi-trib\/","title":{"rendered":"Arihant Technology P. Ltd. v PCIT (2020)79 ITR 119 ( Delhi) ( Trib)"},"content":{"rendered":"<p>Tribunal held that the Assessing Officer had examined the documents and confirmations in detail and adopted a possible view that the assessee had established the identity and creditworthiness of the lender and the genuineness of the transaction. Action under section 263 can be taken only when there is lack of enquiry or no enquiry. However, in the assessee\u2019s case necessary enquiry was conducted. Therefore, merely because the Principal Commissioner did not agree with the manner of enquiry conducted by the Assessing Officer he could not substitute his own reasons and hold the order to be erroneous and prejudicial to the interests of the Revenue.( AY.2009-10)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 263 : Commissioner &#8211; Revision of orders prejudicial to revenue \u2013 Accommodation entry -Principal Commissioner not agreeing with manner of  enquiry conducted by  Assessing Officer \u2014 PCIT cannot substitute his own reasons- Revision is held to be not valid   [ S.143(3) ]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-13962","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-3Dc","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/13962","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=13962"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/13962\/revisions"}],"predecessor-version":[{"id":13963,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/13962\/revisions\/13963"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=13962"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=13962"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=13962"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}