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You can accept the issue raised. The revising authority will then pass an order, often directing a fresh assessment or modifying the original order, and tax will be computed on that basis.
ITR
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You can accept the issue raised. The revising authority will then pass an order, often directing a fresh assessment or modifying the original order, and tax will be computed on that basis.
Sec 263, Income-tax Act 1961 (now Sec 377, Income-tax Act 2025)
Accepting can make sense where the amount is small or the facts are clearly against you. Fighting a weak case costs time and fees. But check the penalty risk and the impact on other years. Get advice before deciding.
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