Translumina Therapeutics LLP vs PCIT

Authority: ITAT Tribunal/Court: Delhi Date: 2017-09-15 AY: 2012-13 Section: 263, 80IC, 2(29BA), 263, 147, 124 Acts: Income Tax Act 1961 Result: Revenue Citation: 917Taxpundit166 Justices: I.C. SUDHIR JM & O.P. KANT AM Appeal No: ITA No.2520/Del/2017
Whether the Commissioner of Income Tax (CIT) validly assumed jurisdiction under section 263 to revise the assessment order on grounds that deduction under section 80IC was not properly examined --- Held No. Whether the assessment order was erroneous and prejudicial to revenue due to lack of enquiry into manufacturing activity and missing audit report --- Held No.

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