https://www.taxtmi.com/caselaws?id=444964 ITAT Indore quashed PCIT's revision order u/s 263 due to jurisdictional deficit. The assessee successfully demonstrated that the revision was conducted based on AO's proposal and draft-notice, violating prescribed conditions under section 263. The tribunal found that the show-cause notice was issued on the same day the proposal was mooted before PCIT, indicating the revision lacked proper foundation. Following precedent from Alfa Laval Lund AB case, the tribunal restored the original assessment order, deciding in favor of the assessee on legality grounds. en-us Mon, 31 Jul 2023 00:00:00 +0530 Thu, 26 Oct 2023 18:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444964 ITAT Indore quashed PCIT's revision order u/s 263 due to jurisdictional deficit. The assessee successfully demonstrated that the revision was conducted based on AO's proposal and draft-notice, violating prescribed conditions under section 263. The tribunal found that the show-cause notice was issued on the same day the proposal was mooted before PCIT, indicating the revision lacked proper foundation. Following precedent from Alfa Laval Lund AB case, the tribunal restored the original assessment order, deciding in favor of the assessee on legality grounds. Case-Laws Income Tax Mon, 31 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444964