ASIAN PAINTS LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE 3(4), MUMBAI, MUMBAI

ITA 3489/MUM/2025Status: DisposedITAT Mumbai28 April 2026AY 2021-2229 pages
AI SummaryAllowed

What were the facts?

The Principal Commissioner of Income Tax (PCIT) initiated revision proceedings under Section 263 against Asian Paints Limited, alleging the Assessing Officer (AO) had not thoroughly examined certain issues, making the assessment order erroneous and prejudicial to revenue. The PCIT directed the AO to make additions on multiple counts.

What did the Tribunal hold?

The Tribunal held that the PCIT cannot invoke revisionary powers merely because their opinion differs from the AO's, especially when the AO had already considered the issues based on detailed notices and assessee's elaborate replies. The PCIT's direction to make additions was found to be beyond the scope of Section 263.

What were the issues?

Whether the PCIT correctly invoked Section 263 powers when the AO had already considered the issues, and whether the PCIT can direct specific additions rather than remanding for fresh assessment.

Which sections of the Income-tax Act were involved?

Section 263,Section 143(3),Section 144B,Section 36(1)(vii),Section 115BBD,Section 80M,Section 37(1),Section 43B,Section 54EC,Section 50C

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “A” BENCH MUMBAI

Before: HONBLE JUSTICE (RETD.) C V BHADANG & SHRI GIRISH AGRAWAL

Hearing: 16.03.2026Pronounced: 28.04.2026

PER GIRISH AGRAWAL, ACCOUNTANT MEMBER:

This appeal filed by the assessee is against the order of ld. Pr. Commissioner of Income Tax, Mumbai - 3, vide order no. ITBA/REV/F/REV5/2024-25/1074837702(1), dated 21.03.2025 passed against the assessment order by DCIT/ACIT, Circle-3(4), Mumbai, u/s. 143(3) r.w.s. 144B of the Income-tax Act, 1961 (hereinafter referred to as the “Act”), dated 29.12.2022, for Assessment Year 2021-22. 2 Asian Paints Limited AY 2021-22

2.

Grounds taken by the assessee are reproduced as under:

“1. The Ld. PCIT (“Ld. PCIT”), erred in invoking and passing the order dated March 21, 2025 under section 263 of

The order continues below.

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