NEW DELHI UP ROAD CARRIERS PRIVATE LIMITED Vs. PR. CIT-4, NEW DELHI

Parties Involved

Facts Summary

The assessee company filed its return for the AY 2022-23 on 22.10.2022, admitting total income of Rs. 88,74,280/-. The case was selected for scrutiny assessment through CASS for reasons including large value receipt or repayment of loans other than through banking channels and directors in the company being either directors in a company whose registration have been cancelled by MCA or of low means. The assessment was finalized under section 143(3) read with section 144B of the Income Tax Act, 19…

Legal Issues

• 1. Erroneous assumption of jurisdiction by PCIT u/s. 263 of the Act.
• 2. Erroneous passing of revisionary order by PCIT u/s. 263 of the Act.

Precedents Relied Upon

2 precedents cited in this judgement.

Judgment Outcome