https://www.taxtmi.com/caselaws?id=462347 ITAT Ahmedabad set aside the PCIT's revision order u/s 263 regarding disallowances u/s 14A and interest on grants. The tribunal held that PCIT violated principles of natural justice by failing to consider the assessee's written submissions during proceedings. The court ruled that once the AO takes a legally plausible view after due application of mind, section 263 proceedings cannot be used merely to substitute PCIT's view. The assessment order was deemed not erroneous or prejudicial to revenue interests, making the revision order unsustainable. en-us Thu, 21 Nov 2024 00:00:00 +0530 Thu, 12 Jun 2025 18:49:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462347 ITAT Ahmedabad set aside the PCIT's revision order u/s 263 regarding disallowances u/s 14A and interest on grants. The tribunal held that PCIT violated principles of natural justice by failing to consider the assessee's written submissions during proceedings. The court ruled that once the AO takes a legally plausible view after due application of mind, section 263 proceedings cannot be used merely to substitute PCIT's view. The assessment order was deemed not erroneous or prejudicial to revenue interests, making the revision order unsustainable. Case-Laws Income Tax Thu, 21 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462347