IN THE INCOME-TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORESHRI NARENDER KUMAR CHOUDHRY, JUDICIAL MEMBER &

SHRI PRABHASH SHANKAR, ACCOUNTANT MEMBER ITA No. 2844/MUM/2024 (A.Y. 2019-20)

Indiabulls Commercial v/s. Pr.CIT (Central), Mumbai Credit Limited,5^th Floor, बनाम

3, Room No. 1901, 19^th Floor, Building No. 27, K G Marg, Air India Building, Nariman Connaught Place, New Delhi – Point, Mumbai 400 021, 110 001 Maharashtra स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: AABCI5559G Appellant/अपीलार्थी .. Respondent/प्रतिवादी Appellant by : Shri K. Gopal & Shri Om Kandalkar,ARs Respondent by : Mr. R.A. Dhyani (CIT DR)

Date of Hearing 12.02.2025 Date of Pronouncement 24.03.2025 आदेश / O R D E R PER PRABHASH SHANKAR [A.M.] :-

The present appeal arising from the Revision order passed u/s 263 of the Income-tax Act, 1961 [hereinafter referred to as “Act”] 20.03.2024 by the Pr. Commissioner of Income-tax, (Central), Mumbai [hereinafter referred to ‘PCIT’] pertaining to assessment order passed u/s. 143(3) of the Act dated 27.09.2021 for the Assessment Year [A.Y.] 2019-20.

2. The grounds of appeal are as under:-

1. Whether Ld. PCIT (Central) Mumbai -3 erred on facts and in law in opining that the assessment