https://www.taxtmi.com/caselaws?id=773831 The HC upheld ITAT's decision dismissing CIT's revision under Section 263. The court held that both essential conditions for invoking Section 263 - that the assessment order must be erroneous and prejudicial to revenue interests - were not satisfied. ITAT found that PCIT failed to conduct independent enquiry or identify specific errors, while AO had exercised due diligence. The assessee's deductions under Sections 80IA(4), 80G, and 37(1) were properly allowed, with similar deductions granted in previous years. The court concluded the assessment order was neither erroneous nor prejudicial to revenue interests, ruling in favor of the assessee. en-us Mon, 23 Jun 2025 00:00:00 +0530 Sat, 28 Jun 2025 08:31:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773831 The HC upheld ITAT's decision dismissing CIT's revision under Section 263. The court held that both essential conditions for invoking Section 263 - that the assessment order must be erroneous and prejudicial to revenue interests - were not satisfied. ITAT found that PCIT failed to conduct independent enquiry or identify specific errors, while AO had exercised due diligence. The assessee's deductions under Sections 80IA(4), 80G, and 37(1) were properly allowed, with similar deductions granted in previous years. The court concluded the assessment order was neither erroneous nor prejudicial to revenue interests, ruling in favor of the assessee. Case-Laws Income Tax Mon, 23 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773831