IN THE INCOME TAX APPELLATE TRIBUNAL, RANCHI BENCH, RANCHI BEFORE SHRI GEORGE MATHAN, JUDICIAL MEMBER AND SHRI RATNESH NANDAN SAHAY, ACCOUNTANT MEMBER I.T.A. No. 47/Ran/2022 (Assessment Year-2017-18)

(Virtual Hearing)

Shiv Shambhu Iron & Steel Private Pr.CIT, Limited, Ranchi.

Vs.

Draupadi Bhawan, Station Road, Jugsalai, Jamshedpur-831001.

PAN No. AALCS 7663 M Appellant/ Assessee Respondent/ Revenue Assessee represented by Shri Akshay Ringasia, C.A.

Department represented by Shri Shrawan Kumar, CIT-DR Date of hearing 05/03/2025 Date of pronouncement 28/03/2025

O R D E R

PER: BENCH

1. This appeal by the appellant is directed against the order of the learned Principal Commissioner of Income Tax, Ranchi [in short, the ld. PCIT] passed under Section 263 of the Income Tax Act, 1961 (in short, the Act) dated 03/03/2022 for the Assessment Year (AY) 2017-18 by raising following grounds of appeal:

"1. ThattheLd.PCITerredinlawandinfactinsettingasidetheorderofthe Ld. AO under Section143(3) by invoking revisionary jurisdiction under section263.

2. ThattheLd.PCITerredininvokingrevisionaryjurisdictionundersection

263onthebasisofaproposalsenttohimwithoutsuomotucallingforand examiningtherecordofassessment.

3.