https://www.taxtmi.com/caselaws?id=458228 ITAT Indore quashed CIT's revision order u/s 263 regarding AO's failure to examine exemption u/s 54B/54F and deduction of transfer expenses against long-term capital gain. The tribunal held revision was conducted on AO's proposal, failing to fulfill section 263 conditions. Following precedent from Alfa Laval Lund AB case with identical facts, ITAT found jurisdictional deficit vitiating the impugned order. The original assessment order was restored and assessee's appeal was allowed. en-us Tue, 02 Jan 2024 00:00:00 +0530 Wed, 16 Oct 2024 20:43:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=458228 ITAT Indore quashed CIT's revision order u/s 263 regarding AO's failure to examine exemption u/s 54B/54F and deduction of transfer expenses against long-term capital gain. The tribunal held revision was conducted on AO's proposal, failing to fulfill section 263 conditions. Following precedent from Alfa Laval Lund AB case with identical facts, ITAT found jurisdictional deficit vitiating the impugned order. The original assessment order was restored and assessee's appeal was allowed. Case-Laws Income Tax Tue, 02 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=458228