O.S. MOTORS PVT. LTD.,JODHPUR` vs. PRINCIPAL COMMISSIONER OF INCOME , JODHPUR
In the result, the appeal filed by the assessee is partly allowed
ITA 54/JODH/2022[2017-18]Status: DisposedITAT Jodhpur16 Jan 2023AY 2017-18
Bench: Shri B. R. Baskaran & Dr. S. Seethalakshmim/S. O.S. Motors Pvt. Ltd. Vs The Pr. Cit Sainiks Motor Building, Chopasani Jodhpur-1 Road, Jodhpur-342001 (Raj) Jodhpur (Appellant) (Respondent) Pan No. Aaaco 1896 R
Section 143(3)Section 14ASection 194HSection 263Section 36(1)(v)Section 40
3. The scope of revision proceedings initiated under section 263 of the Act was examined by Hon'ble Bombay High Court, in the case of Grasim Industries Ltd.
V CIT (321 ITR 92) by taking into account the law laid down by the Hon'ble
Supreme Court. The relevant observations are extracted below:
“Section 263 of the Income
