DEVI SEA FOODS LIMITED,VISAKHAPATNAM vs. PRINCIPAL COMMISSIONER OF INCOME TAX, VISAKHAPATNAM

Appeal of the assessee is partly allowed for statistical\npurposes

1. The Learned Principal Commissioner of Income Tax (PCIT),\nVisakhapatnam-1 erred in law and on facts in invoking the provisions of\nSection 263 of the Income Tax Act, 1961 and holding that the assessment\norder passed under Section 143(3) r.w.s. 144B dated 25.09.2022 is\nerroneous and prejudicial to the interest of the revenue.\n2. The impugned order passed

NANDIGAM VEERABRAHMAM,RAJAHMUNDRY vs. INCOME TAX OFFICER, WARD-2(1), RAJAHMUNDRY

In the result, the appeal of the assessee is allowed in terms of our aforesaid observations