AdvertisementHotel Babylon Continental Private Limited Vs PCIT (Central) (ITAT Raipur) The appeal before the ITAT Raipur challenged the order passed by the Principal Commissioner of Income Tax (Central), Bhopal under Section 263 of the Income-tax Act, 1961 dated 30.03.2024, which revised the reassessment order passed by the Assessing Officer under Sections 147 read with 143(3) dated 29.03.2022 for Assessment Year 2014-15. The Principal CIT had directed the Assessing Officer to frame the assessment afresh after verifying the creditworthiness of unsecured loans amounting to ₹1,88,56,508 and share capital a...