https://www.taxtmi.com/caselaws?id=456883 The ITAT Kolkata held that the Pr. CIT must establish error in assessment orders before passing revision orders u/s 263. The CIT must conduct necessary enquiry and demonstrate that the order is erroneous and prejudicial to revenue interest. The tribunal found the Pr. CIT failed to properly apply mind to materials on record. The matter was remitted back to Pr. CIT for proper consideration and enquiry regarding the deduction u/s 80IC. The assessee's appeal was allowed for statistical purposes. en-us Thu, 08 Jun 2023 00:00:00 +0530 Thu, 22 Aug 2024 19:52:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456883 The ITAT Kolkata held that the Pr. CIT must establish error in assessment orders before passing revision orders u/s 263. The CIT must conduct necessary enquiry and demonstrate that the order is erroneous and prejudicial to revenue interest. The tribunal found the Pr. CIT failed to properly apply mind to materials on record. The matter was remitted back to Pr. CIT for proper consideration and enquiry regarding the deduction u/s 80IC. The assessee's appeal was allowed for statistical purposes. Case-Laws Income Tax Thu, 08 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456883