AdvertisementPCIT-1 Vs Prabhu Poly Pipes Ltd. (Supreme Court of India)The Supreme Court dismissed the Special Leave Petition filed by the Revenue against the Calcutta High Court judgment concerning the exercise of revisionary powers under Section 263 of the Income Tax Act, 1961. The Calcutta High Court agreed with the factual findings and held that no question of law, much less a substantial question of law, arose for consideration. The Supreme Court subsequently declined to interfere with the High Court’s judgment and dismissed the SLP. FULL TEXT OF THE SUPREME COURT JUDGMENT/ORDERDelay condoned. In the facts and circumstances of the case, we are not inclined to interfere with the impugned judgment and order passed by the High Court.