M/S RISHABH CONSTRUCTIONS PVT. LTD.,JAIPUR vs. PCIT-2, JAIPUR, JAIPUR

ITA 1066/JPR/2026Status: DisposedITAT Jaipur22 September 2026AY 2022-239 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the AO had made an inquiry into the issue, even if the PCIT considered it inadequate. The PCIT's order under Section 263 was set aside as the twin conditions of the order being erroneous and prejudicial to the revenue were not satisfied.

What were the facts?

The assessee company, engaged in civil construction and wind power generation, filed its return of income. During scrutiny assessment, the AO questioned a difference between Form 26AS receipts and book entries, which the assessee explained as mobilization advance and GST. The AO accepted the explanation and completed the assessment.

What were the issues?

Whether the PCIT's assumption of jurisdiction under Section 263 was justified when the AO had already made an inquiry into the disputed issue, and whether the inquiry was inadequate.

Which sections of the Income-tax Act were involved?

Section 263,Section 143(3),Section 144B,Section 142(1)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, ‘B’ BENCH, JAIPUR

Before: Shri Kuldip Singh & Shri Prakash

PER : PRAKASH, ACCOUNTANT MEMBER:-

1.

This appeal by the Assessee is directed against the order of the learned Principal Commissioner of Income Tax, Jaipur-2 [hereinafter referred to as "the learned PCIT"] dated 11.02.2026 passed under section 263 of the Income Tax Act, 1961 (hereinafter referred to as "the Act") for the assessment year 2022-23, by which the assessment order dated 20.03.2024 passed by the Assessing Officer (hereinafter referred to as "the AO") under section 143(3) read with section 144B of the Act was set aside.

2.

The grounds of appeal raised by the Assessee before us in the memorandum of appeal in Form No. 36 read as under: R

The order continues below.

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