Revision Invalid Where AO Conducted Detailed Enquiry on Venture Capital Fund Exemption: Bombay High Court

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Revision Invalid Where AO Conducted Detailed Enquiry on Venture Capital Fund Exemption: Bombay High Court

Direct Tax

Published on

27/01/2026

By Mariya Paliwala

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The Bombay High Court has dismissed an appeal filed by the Income Tax Department, holding that revisionary proceedings under Section 263 of the Income-tax Act, 1961 cannot be sustained where the Assessing Officer has carried out a detailed enquiry and adopted a legally permissible view while granting exemption to a Venture Capital Fund (VCF). The…

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Mariya Paliwala https://www.jurishour.in/

Mariya is the Senior Editor at Juris Hour. She has 7+ years of experience on covering tax litigation stories from the Supreme Court, High Courts and various tribunals including CESTAT, ITAT, NCLAT, NCLT, etc. Mariya graduated from MLSU Law College, Udaipur (Raj.) with B.A.LL.B. and also holds an LL.M. She started her career as a freelance tax reporter in the leading online legal news companies.

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Revision Invalid Where AO Conducted Detailed Enquiry on Venture Capital Fund Exemption: Bombay High Court

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