S.K.N Propmart Pvt. Ltd. Vs. Pr. CIT
Case No: ITA No. 4214/del/2019
Court: Income Tax Appellate Tribunal, Delhi Bench ‘B’, New Delhi
Date: 2/19/2025
Parties Involved
appellantSKN Propmart Pvt. Ltd.
respondentPrincipal Commissioner of Income Tax
Facts Summary
The assessee, SKN Propmart Pvt. Ltd., filed its return of income declaring income of Rs. 2,06,64,574/-. The case was selected for limited scrutiny through CASS. The assessment was completed under section 143(3) of the Income Tax Act, 1961, with disallowances made for personal expenses and outstanding service tax. The Principal Commissioner of Income Tax (PCIT) invoked revisionary jurisdiction under section 263 of the Act, setting aside the assessment order and directing a fresh assessment. The a…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the order passed by the Ld. PCIT under section 263 of the Act is bad in law and liable to be set aside.
- 2. Whether the Ld. PCIT has erred in assuming the revisionary jurisdiction under section 263 of the Act.
1 more legal issue analysed in this judgement.
Precedents Relied Upon
7 precedents cited in this judgement.