https://www.taxtmi.com/caselaws?id=458440 Gujarat HC upheld ITAT's decision setting aside revision order under section 263. Assessee paid amount to discharge mortgage debt through personal guarantee, not by creating mortgage on property. Property buyer directly paid Titco Ltd to release mortgage based on assessee's guarantee. Assessee never availed loan against the property. Tribunal correctly found assessment order neither erroneous nor prejudicial to revenue interests. No substantial question of law arose. en-us Mon, 01 Jan 2024 00:00:00 +0530 Sat, 26 Oct 2024 19:28:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=458440 Gujarat HC upheld ITAT's decision setting aside revision order under section 263. Assessee paid amount to discharge mortgage debt through personal guarantee, not by creating mortgage on property. Property buyer directly paid Titco Ltd to release mortgage based on assessee's guarantee. Assessee never availed loan against the property. Tribunal correctly found assessment order neither erroneous nor prejudicial to revenue interests. No substantial question of law arose. Case-Laws Income Tax Mon, 01 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=458440