BALUBHAI KIKABHAI PATEL,VALSAD vs. PRINCIPAL COMMISIONER OF INCOME TAX, VALSAD

ITA 461/SRT/2024Status: DisposedITAT Surat28 May 2025AY 2018-19Bench: SHRI PAWAN SINGH (Judicial Member), SHRI BIJAYANANDA PRUSETH (Accountant Member)1 pages
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What did the Tribunal hold?

The Tribunal held that the AO had conducted sufficient inquiry and considered the assessee's submissions, making a plausible decision. The PCIT's action was considered a change of opinion, which is not permissible under Section 263. The Tribunal also noted that the matter was pending before the CIT(A) for fresh adjudication.

What were the facts?

The assessee filed a return of income declaring Nil income. The case was selected for limited scrutiny on agricultural income. The AO disallowed a portion of the claimed agricultural income, which was then revised by the PCIT under Section 263 of the Income-tax Act, 1961. The assessee appealed this revision.

What were the issues?

Whether the PCIT's order under Section 263 of the Income-tax Act, 1961, revising the AO's assessment order was justified, considering the AO had conducted proper inquiry and taken a plausible view.

Which sections of the Income-tax Act were involved?

Section 263,Section 143(3),Section 144B,Section 68,Section 115BBE,Section 251(1)(i)

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Before: SHRI PAWAN SINGH & SHRI BIJAYANANDA PRUSETH

Hearing: 13/03/2025Pronounced: 28/05/2025

PER BIJAYANANDA PRUSETH, AM: This appeal by the assessee emanates from the order passed under section 263 of the Income-tax Act, 1961 (in short, ‘the Act’) dated 15.03.2024 by the Principal Commissioner of Income Tax, Valsad, [in short, ‘PCIT’] which in turn assessment order passed by National-e Assessment Centre, Delhi/Assessing Officer for the assessment year (AY) 2018-19 on 21.04.2021. 2. The grounds of appeal raised by the assessee are as under: “1.

The order continues below.

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