https://www.taxtmi.com/caselaws?id=449073 ITAT Ahmedabad partially allowed the assessee's appeal against PCIT's revision order under section 263. The tribunal upheld PCIT's finding regarding incorrect allowance of additional depreciation, following precedent from Dakshin Gujarat Vij Co. Ltd. However, regarding bad debts claim, the tribunal found PCIT's revision unsustainable since PCIT himself was satisfied with assessee's explanation and documents, confirming the claim was legally eligible. The tribunal held that mere lack of examination by AO during assessment proceedings does not render the order erroneous when no actual error exists. en-us Fri, 02 Feb 2024 00:00:00 +0530 Mon, 05 Feb 2024 08:45:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=449073 ITAT Ahmedabad partially allowed the assessee's appeal against PCIT's revision order under section 263. The tribunal upheld PCIT's finding regarding incorrect allowance of additional depreciation, following precedent from Dakshin Gujarat Vij Co. Ltd. However, regarding bad debts claim, the tribunal found PCIT's revision unsustainable since PCIT himself was satisfied with assessee's explanation and documents, confirming the claim was legally eligible. The tribunal held that mere lack of examination by AO during assessment proceedings does not render the order erroneous when no actual error exists. Case-Laws Income Tax Fri, 02 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=449073