https://www.taxtmi.com/caselaws?id=751465 ITAT Delhi allowed the assessee's appeal against PCIT's revision order u/s 263. The case concerned taxability of interest on enhanced compensation under Land Acquisition Act, which PCIT sought to revise claiming lack of enquiry by AO. ITAT held the issue was no longer res integra, citing identical favorable decision in similar case. Since AO's order was based on SC precedent in Ghanshyam HUF case, it constituted a debatable issue with two possible views. Following Delhi HC precedent in Hindustan Coca Cola case, ITAT ruled PCIT cannot assume revisional jurisdiction on debatable matters where AO adopted one plausible view. The impugned revision order was quashed. en-us Mon, 15 Apr 2024 00:00:00 +0530 Tue, 16 Apr 2024 14:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=751465 ITAT Delhi allowed the assessee's appeal against PCIT's revision order u/s 263. The case concerned taxability of interest on enhanced compensation under Land Acquisition Act, which PCIT sought to revise claiming lack of enquiry by AO. ITAT held the issue was no longer res integra, citing identical favorable decision in similar case. Since AO's order was based on SC precedent in Ghanshyam HUF case, it constituted a debatable issue with two possible views. Following Delhi HC precedent in Hindustan Coca Cola case, ITAT ruled PCIT cannot assume revisional jurisdiction on debatable matters where AO adopted one plausible view. The impugned revision order was quashed. Case-Laws Income Tax Mon, 15 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=751465