https://www.taxtmi.com/caselaws?id=430552 The Tribunal allowed the appeal of the assessee, ruling that the revision order passed by the PCIT under section 263 of the Act was invalid. The PCIT's revision focused on the cost of improvement, an issue not part of the original assessment or reassessment by the AO. The Tribunal held that the PCIT's revision could only be based on reasons for the reassessment and not on unrelated items. Consequently, the Tribunal quashed the revision order, emphasizing that it was beyond the scope of the original assessment or reassessment. en-us Wed, 16 Nov 2022 00:00:00 +0530 Tue, 22 Nov 2022 09:03:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430552 The Tribunal allowed the appeal of the assessee, ruling that the revision order passed by the PCIT under section 263 of the Act was invalid. The PCIT's revision focused on the cost of improvement, an issue not part of the original assessment or reassessment by the AO. The Tribunal held that the PCIT's revision could only be based on reasons for the reassessment and not on unrelated items. Consequently, the Tribunal quashed the revision order, emphasizing that it was beyond the scope of the original assessment or reassessment. Case-Laws Income Tax Wed, 16 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430552