https://www.taxtmi.com/caselaws?id=388549 ITAT Kolkata held that PCIT's revision u/s 263 was without jurisdiction. AO had specifically enquired about s.80-IC deduction eligibility for manufacturing unit profits, examined assessee's reply, and passed assessment order after proper consideration. The order was neither erroneous nor prejudicial to revenue interests. Export incentives and insurance subsidies, being directly related to production costs with first-degree nexus to eligible undertaking's business, were properly allowed for s.80-IC computation. AO's view was sustainable in law, making revision jurisdictionally invalid. Order quashed in assessee's favor. en-us Thu, 31 Oct 2019 00:00:00 +0530 Wed, 14 May 2025 12:24:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=388549 ITAT Kolkata held that PCIT's revision u/s 263 was without jurisdiction. AO had specifically enquired about s.80-IC deduction eligibility for manufacturing unit profits, examined assessee's reply, and passed assessment order after proper consideration. The order was neither erroneous nor prejudicial to revenue interests. Export incentives and insurance subsidies, being directly related to production costs with first-degree nexus to eligible undertaking's business, were properly allowed for s.80-IC computation. AO's view was sustainable in law, making revision jurisdictionally invalid. Order quashed in assessee's favor. Case-Laws Income Tax Thu, 31 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=388549