M/S ACTIVE TOOLS (P). LIMITED,JALANDHAR vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE -II, JALANDHAR

Bench: : Shri Laliet Kumar & Dr. Mitha Lal Meena

6 of the impugned Order, Ld. Principal Commissioner of Income Tax-1, Jalandhar has observed “that position of law stands substantially altered with the inception of explanation 2 in section 263 by Finance Act 2015. As the provision in that section has been specifically invoked the decision relied upon by the Assessee pertaining to the pre amended section