IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH MUMBAI BEFORE HON'BLE JUSTICE (RETD.) C V BHADANG, PRESIDENT AND SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER ITA No. 3489/MUM/2025 Assessment Year: 2021-22 Asian Paints Limited Deputy Commissioner of Asian Paints House, Income-Tax, Circle 3(4), 6A & 6B Shanti Nagar, Mumbai Vakola Pipeline Lane Vs.

Santacruz (East), Mumbai - 400055 (PAN: AAACA3622K)

(Appellant) (Respondent)

Present for:

Assessee : Shri Madhur Agrawal, Advocate Revenue : Shri Rajesh Kumar Yadav, CIT DR Date of Hearing : 16.03.2026 Date of Pronouncement : 28.04.2026

O R D E R

PER GIRISH AGRAWAL, ACCOUNTANT MEMBER:

This appeal filed by the assessee is against the order of ld. Pr.

Commissioner of Income Tax, Mumbai - 3, vide order no. ITBA/REV/F/REV5/2024-25/1074837702(1), dated 21.03.2025 passed against the assessment order by DCIT/ACIT, Circle-3(4), Mumbai, u/s. 143(3) r.w.s. 144B of the Income-tax Act, 1961 (hereinafter referred to as the “Act”), dated 29.12.2022, for Assessment Year 2021-22.

2. Grounds taken by the assessee are reproduced as under:

“1. The Ld. PCIT (“Ld. PCIT”), erred in invoking and passing the order dated March 21, 2025 under section 263 of the Act (“impugned revis