https://www.taxtmi.com/caselaws?id=768237 ITAT Delhi held that PCIT's revision u/s 263 was unjustified where AO had completed limited scrutiny assessment after verifying large investment increases and interest expenses related to exempt income. The assessee addressed all issues raised in notices through ITBA portal submissions. PCIT wrongly questioned investment decisions in house properties and fund utilization despite accepting no exempt income issues existed. ITAT ruled tax authorities cannot interfere in business investment decisions when expenses are legitimately incurred. AO had taken a possible view based on available material, making the assessment neither erroneous nor prejudicial to revenue interests. Appeal decided in favor of assessee. en-us Fri, 28 Mar 2025 00:00:00 +0530 Thu, 03 Apr 2025 07:50:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768237 ITAT Delhi held that PCIT's revision u/s 263 was unjustified where AO had completed limited scrutiny assessment after verifying large investment increases and interest expenses related to exempt income. The assessee addressed all issues raised in notices through ITBA portal submissions. PCIT wrongly questioned investment decisions in house properties and fund utilization despite accepting no exempt income issues existed. ITAT ruled tax authorities cannot interfere in business investment decisions when expenses are legitimately incurred. AO had taken a possible view based on available material, making the assessment neither erroneous nor prejudicial to revenue interests. Appeal decided in favor of assessee. Case-Laws Income Tax Fri, 28 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768237