ITAT Agra Judgments — November 2022

The Tribunal held that the PCIT's assumption of jurisdiction under Section 263 was bad in law. It found that the Assessing Officer had made inquiries and that the issue of closing stock was already under appeal before the CIT(A), barring revisionary powers.

The Tribunal held that the PCIT's assumption of jurisdiction under Section 263 was bad in law. It found that the Assessing Officer had made inquiries and that the issue of closing stock was already under appeal before the CIT(A), barring revisionary powers.