https://www.taxtmi.com/caselaws?id=456234 ITAT Delhi set aside PCIT's revision order u/s 263 regarding deduction claims u/s 54B/54F and agricultural land purchase examination. The tribunal found PCIT failed to independently apply his mind, merely acting on AO's recommendation based on audit objection. Since AO had already verified and examined the issues during assessment proceedings before framing the original order, no error or infirmity existed making it erroneous and prejudicial to revenue interest. The original assessment order was restored, deciding in favor of the assessee. en-us Fri, 10 Nov 2023 00:00:00 +0530 Mon, 08 Jul 2024 20:19:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456234 ITAT Delhi set aside PCIT's revision order u/s 263 regarding deduction claims u/s 54B/54F and agricultural land purchase examination. The tribunal found PCIT failed to independently apply his mind, merely acting on AO's recommendation based on audit objection. Since AO had already verified and examined the issues during assessment proceedings before framing the original order, no error or infirmity existed making it erroneous and prejudicial to revenue interest. The original assessment order was restored, deciding in favor of the assessee. Case-Laws Income Tax Fri, 10 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456234