High Court of Bombay at Goa Allows Assessee's Appeal in Income Tax Deduction Case Under Section 10B — CIT Cannot Revise Assessment Under Section 263 Without Proper Inquiry. The court held that the Commissioner must record satisfaction that the assessment order is both erroneous and prejudicial to the interest of revenue, and mere lack of discussion does not make it erroneous if the Assessing Officer has made due inquiries.
2 Nov 2020The case involves two tax appeals filed by Sesa Starlite Limited (formerly Sesa Goa Ltd.) against the Commissioner of Income Tax (CIT) concerning the ...




