https://www.taxtmi.com/caselaws?id=313419 ITAT Indore quashed PCIT's revision order under Section 263 against an assessment order passed under Section 153A. PCIT sought revision claiming AO erroneously allowed cash payments and agricultural income exemption for assessee engaged in real estate business. ITAT held PCIT lacked jurisdiction to invoke Section 263 as the original assessment order was passed by ACIT with prior approval under Section 153D, requiring revised decision/directions from ACIT before any revision. Following precedent in Ramamoorthy Vasudevan case, ITAT allowed assessee's appeals and quashed the revision order. en-us Thu, 05 Jan 2023 00:00:00 +0530 Fri, 12 Apr 2024 17:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=313419 ITAT Indore quashed PCIT's revision order under Section 263 against an assessment order passed under Section 153A. PCIT sought revision claiming AO erroneously allowed cash payments and agricultural income exemption for assessee engaged in real estate business. ITAT held PCIT lacked jurisdiction to invoke Section 263 as the original assessment order was passed by ACIT with prior approval under Section 153D, requiring revised decision/directions from ACIT before any revision. Following precedent in Ramamoorthy Vasudevan case, ITAT allowed assessee's appeals and quashed the revision order. Case-Laws Income Tax Thu, 05 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=313419