A Single Consolidated Satisfaction Note Cannot Cover More Than One Assessment Year: ITAT The ITAT Delhi has quashed the revision order passed by the tax authorities under Section 263 of the Income Tax Act, holding that the original assessment proceedings initiated under Section 153C were invalid because they were based on a single consolidated satisfaction…
Revision Under Section 263 Invalid Without Error and Prejudice, Rules HC The petitioner, Mr Dilip Patel, challenged two revision notices issued by the Principal Commissioner of Income Tax under Section 263 of the Income Tax Act, 1961. The notices sought to revise an assessment order dated June 19, 2023, on two grounds: first, that the…
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