https://www.taxtmi.com/caselaws?id=763635 ITAT Ahmedabad allowed the assessee's appeal against PCIT's revision order u/s 263. The PCIT had found the AO's assessment erroneous for allowing excess staff provident fund contributions beyond Rule 87 limits and depreciation on new plant and machinery. However, ITAT held that PCIT completely ignored assessee's detailed submissions explaining no excess claim was made and that depreciation was claimed on new assets not covered by CBDT Circular 9/2014. The revision order violated natural justice principles by failing to consider assessee's contentions and was deemed non-speaking. en-us Fri, 20 Dec 2024 00:00:00 +0530 Mon, 23 Dec 2024 13:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763635 ITAT Ahmedabad allowed the assessee's appeal against PCIT's revision order u/s 263. The PCIT had found the AO's assessment erroneous for allowing excess staff provident fund contributions beyond Rule 87 limits and depreciation on new plant and machinery. However, ITAT held that PCIT completely ignored assessee's detailed submissions explaining no excess claim was made and that depreciation was claimed on new assets not covered by CBDT Circular 9/2014. The revision order violated natural justice principles by failing to consider assessee's contentions and was deemed non-speaking. Case-Laws Income Tax Fri, 20 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763635