Bombay High Court Upholds Revisional Jurisdiction Under Section 263 of the Income Tax Act, 1961, Holding That Failure of Assessing Officer to Examine Book Profit Computation Under Section 115J Rendered the Assessment Order Erroneous and Prejudicial to Revenue
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Bombay High Court Upholds Revisional Jurisdiction Under Section 263 of the Income Tax Act, 1961, Holding That Failure of Assessing Officer to Examine Book Profit Computation Under Section 115J Rendered the Assessment Order Erroneous and Prejudicial to Revenue

Court’s Decision: The Bombay High Court dismissed the appeal, upholding the Income Tax Appellate Tribunal’s (ITAT) ruling that confirmed the Commissioner of Income Tax’s (CIT) exercise of revisional jurisdiction under…
March 3, 2025