SWD INDUSTRIES,MUMBAI vs. PCIT (CENTRAL), MUMBAI-1, MUMBAI

ITA 9011/MUM/2025Status: DisposedITAT Mumbai12 March 2026AY 2019-2020Bench: SHRI SAKTIJIT DEY (Vice President), SHRI MAKARAND VASANT MAHADEOKAR (Accountant Member)1 pages
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What did the Tribunal hold?

The Tribunal held that the PCIT erred in invoking Section 263 jurisdiction without examining the mandatory approval obtained under Section 153D. The assessment orders, having been passed with prior approval, could not be revised under Section 263 without first invalidating such approval.

What were the facts?

The assessee's assessments were completed under Section 143(3) read with Section 153C after search operations in the Alankit group. The Principal Commissioner of Income Tax (PCIT) initiated revision proceedings under Section 263, alleging the assessment orders were erroneous and prejudicial to revenue.

What were the issues?

Whether the PCIT can invoke Section 263 revisionary powers when assessments were made under Section 153C with mandatory approval under Section 153D, without examining the validity of that approval.

Which sections of the Income-tax Act were involved?

Section 263,Section 153C,Section 143(3),Section 153D

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Cases cited in this judgment(2)Show list

Detected automatically from the text. Citations are also linked where they appear in the judgment. The count shows how many other judgments on BharatTax rely on the same authority.

Income Tax Appellate Tribunal, “F” BENCH MUMBAI

Before: SHRI SAKTIJIT DEY & SHRI MAKARAND VASANT MAHADEOKAR

For Appellant: Shri Salil Kapoor a/w Shri Sumit, Shri Shivam Yadav, Shri, Shri Vinod Gupta, Ld. ARs
For Respondent: Shri Vivek Perampurna, Ld. DR
Hearing: 10.03.2026Pronounced: 12.03.2026

Heard together (6 matters)

ITA No. 9007/Mum/2025
ITA No. 9008/Mum/2025
ITA No. 9009/Mum/2025
ITA No. 9010/Mum/2025
ITA No. 9011/Mum/2025
ITA No. 9012/Mum/2025

Read from the judgment's own cause title. This page is filed under one of them.

PER BENCH: These appeals are filed by the assessee against the separate orders passed by the learned Principal Commissioner of Income Tax (Central), Mumbai-1 [hereinafter referred to as "PCIT”] under section 263 of the Income Tax Act, 1961[hereinafter referred to

The order continues below.

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