https://www.taxtmi.com/caselaws?id=772994 ITAT Jaipur quashed PCIT's revision order u/s 263 regarding interest claimed as capital cost u/s 48. The court held that in faceless assessment by NFAC, the AO conducted adequate enquiry through specialized units (Assessment, Verification, Technical, and Review) and adopted a permissible view on interest cost as part of indexed acquisition cost. PCIT cannot assume jurisdiction merely for inadequate enquiry when AO already examined the issue. The assessment order was neither erroneous nor prejudicial to revenue interest, making revision proceedings unsustainable. Assessee's appeal was allowed. en-us Wed, 12 Mar 2025 00:00:00 +0530 Tue, 07 Jul 2026 11:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772994 ITAT Jaipur quashed PCIT's revision order u/s 263 regarding interest claimed as capital cost u/s 48. The court held that in faceless assessment by NFAC, the AO conducted adequate enquiry through specialized units (Assessment, Verification, Technical, and Review) and adopted a permissible view on interest cost as part of indexed acquisition cost. PCIT cannot assume jurisdiction merely for inadequate enquiry when AO already examined the issue. The assessment order was neither erroneous nor prejudicial to revenue interest, making revision proceedings unsustainable. Assessee's appeal was allowed. Case-Laws Income Tax Wed, 12 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772994