KPA Apparels

Delhi ITAT quashes Section 263 revisionary order for “inadequate enquiry” The Delhi Bench ‘B’ of the Income Tax Appellate Tribunal (ITAT) on 14 May held that revisionary powers under Section 263 of the Income-tax Act, 1961 cannot be invoked merely because the Assessing Officer failed to examine or initiate penalty proceedings relating to Section 269T…