No sec. 263 revision mere ground that AO passed an order relying on ITAT judgment which was reversed by HC

INCOME TAX : Where out of provision of Rs. 407 crore made by assessee bank for depreciation on investment, Assessing Officer had added only Rs. 233 crore relating to investments in India and excluded Rs. 175 crore pertaining to investment outside India, in view of Tribunal's order for earlier years upholding such addition, order of Assessing Officer could not be termed as erroneous

from www.taxmann.com Latest Case Laws https://ift.tt/3t05c9N