Requirements of Section 263 must be satisfied for CIT to exercise revisionary jurisdiction

ITAT Kolkata has held in the case of Poonam Bhotika vs. ITO Ward 43(1) Kolkata that Commissioner of Income Tax ( CIT ) does not have power under section 263 to remit the matter to the AO without giving a finding that the order was erroneous or prejudicial to the interest of revenue.

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