https://www.taxtmi.com/caselaws?id=445405 ITAT Raipur upheld PCIT's revision order u/s 263 regarding deduction u/s 80-IA claim. While assessee filed return within extended due date, avoiding violation of section 80AC, the AO failed to verify compliance with Rule 18BBB requiring separate balance sheet for power generation unit. PCIT correctly identified this as erroneous and prejudicial to revenue interest. The order was set aside for fresh examination with proper opportunity for assessee to be heard. Appeal dismissed. en-us Tue, 17 Oct 2023 00:00:00 +0530 Tue, 07 Nov 2023 10:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=445405 ITAT Raipur upheld PCIT's revision order u/s 263 regarding deduction u/s 80-IA claim. While assessee filed return within extended due date, avoiding violation of section 80AC, the AO failed to verify compliance with Rule 18BBB requiring separate balance sheet for power generation unit. PCIT correctly identified this as erroneous and prejudicial to revenue interest. The order was set aside for fresh examination with proper opportunity for assessee to be heard. Appeal dismissed. Case-Laws Income Tax Tue, 17 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=445405