https://www.taxtmi.com/caselaws?id=766273 The ITAT Ahmedabad allowed the assessee's appeal against PCIT's revision u/s 263. The AO had properly examined and allowed deduction u/s 54F after verifying all conditions, including the assessee's investment of Rs.89,10,000 in properties meeting the threshold requirements. The PCIT's invocation of Section 263 was held to be merely a review of the assessment order, which exceeded the scope of Section 263. The tribunal found the AO's decision neither erroneous nor prejudicial to revenue interests. en-us Tue, 18 Feb 2025 00:00:00 +0530 Fri, 21 Feb 2025 08:23:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766273 The ITAT Ahmedabad allowed the assessee's appeal against PCIT's revision u/s 263. The AO had properly examined and allowed deduction u/s 54F after verifying all conditions, including the assessee's investment of Rs.89,10,000 in properties meeting the threshold requirements. The PCIT's invocation of Section 263 was held to be merely a review of the assessment order, which exceeded the scope of Section 263. The tribunal found the AO's decision neither erroneous nor prejudicial to revenue interests. Case-Laws Income Tax Tue, 18 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766273