https://www.taxtmi.com/caselaws?id=445862 ITAT Delhi quashed PCIT's revision order u/s 263 regarding general expenses disallowance. AO had disallowed 20% of claimed general expenses after scrutiny assessment with proper enquiries. PCIT sought 100% disallowance citing inadequate details and verification. ITAT held AO's decision was not erroneous as it was based on quasi-judicial examination. Mere disagreement by PCIT with AO's conclusion doesn't constitute error. Both conditions - erroneous and prejudicial to revenue - must coexist for valid s.263 revision. PCIT's order was unsustainable and vacated. en-us Fri, 17 Nov 2023 00:00:00 +0530 Tue, 21 Nov 2023 08:33:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=445862 ITAT Delhi quashed PCIT's revision order u/s 263 regarding general expenses disallowance. AO had disallowed 20% of claimed general expenses after scrutiny assessment with proper enquiries. PCIT sought 100% disallowance citing inadequate details and verification. ITAT held AO's decision was not erroneous as it was based on quasi-judicial examination. Mere disagreement by PCIT with AO's conclusion doesn't constitute error. Both conditions - erroneous and prejudicial to revenue - must coexist for valid s.263 revision. PCIT's order was unsustainable and vacated. Case-Laws Income Tax Fri, 17 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=445862