Reassessment under Section 263 is invalid when Assessing Officer conducted proper inquiry during assessment
Reassessment under Section 263 is invalid when Assessing Officer conducted proper inquiry during assessment Issue Whether a Principal Commissioner of Income Tax (PCIT) can validly invoke revisionary powers under Section 263 on grounds of lack of inquiry when the Assessing Officer (AO) had issued specific queries regarding 26AS/service tax reconciliations and accepted the assessee’s detailed… Read More »