whether 30% deduction claimed against rental income could be denied for wrong feeding itr showing rental income under other source of income? whether cit can revise the order

[ASHUTOSH TIWARI]

Whether CIT can revise order u/s 263 for claiming of deduction of 30% against the rental income ,which was

wrongly shown under the head income from other sources while feeding itr?

AI Summary

Can the CIT revise an order under Section 263 to correct rental income misclassification and allow a 30% deduction? A query was raised regarding the denial of a 30% deduction claimed against rental income due to it being incorrectly reported under 'other sources' in the income tax return. The issue concerns whether the Commissioner of Income Tax (CIT) can revise the order under section 263 to address this misclassification and allow the deduction.