https://www.taxtmi.com/caselaws?id=456716 The ITAT Ahmedabad dismissed the Principal CIT's revision order under Section 263. The CIT had alleged that the AO erroneously allowed capital expenditure without examining Section 13(8) provisions. However, the Gujarat HC had already ruled in favor of the assessee, holding that a society under Gujarat Town Planning and Urban Development Act, 1976, providing water supply, sewerage disposal, and other services qualified as providing general public utility services under Section 2(15). The SC subsequently upheld this view. Therefore, the AO's order was neither erroneous nor prejudicial to revenue interests. en-us Wed, 19 Apr 2023 00:00:00 +0530 Fri, 09 Aug 2024 20:31:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456716 The ITAT Ahmedabad dismissed the Principal CIT's revision order under Section 263. The CIT had alleged that the AO erroneously allowed capital expenditure without examining Section 13(8) provisions. However, the Gujarat HC had already ruled in favor of the assessee, holding that a society under Gujarat Town Planning and Urban Development Act, 1976, providing water supply, sewerage disposal, and other services qualified as providing general public utility services under Section 2(15). The SC subsequently upheld this view. Therefore, the AO's order was neither erroneous nor prejudicial to revenue interests. Case-Laws Income Tax Wed, 19 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456716