3I INFOTECH LIMITED,MUMBAI vs. PR. CIT- 15, MUMBAI

Revision Order passed under Section 263 of the Income-tax Act, 1961 (the Act) by the Pr. Commissioner of Income Tax-15, Mumbai, (in short learned ‘PCIT’) for A.Y. 2013-14 on 29th March, 2019, wherein it has been held that the assessment order passed under Section 143(3) of the Act read with section 144C(3) of the Act passed on 31st January, 2017, assessing the total loss at ₹673.50 crores is erroneous so far as prejudicial to the interest of the Revenue and therefore, the learned PCIT set aside the assessment order directing the learned Assessing Officer to refer the international transaction of Sd/- Sd/- (PAVAN KUMAR GADALE) (PRASHANT MAHARISHI) (JUDICIAL MEMBER) (ACCOUNTANT MEMBER)

The Respondent

CIT DR, ITAT, Mumbai 4.