https://www.taxtmi.com/caselaws?id=774993 Delhi HC upheld ITAT's decision dismissing CIT's revision u/s 263 regarding disallowance u/s 14A. AO had accepted assessee's contention that no disallowance u/s 14A was required as assessee had no exempt income during AY 2018-19. PCIT found this erroneous and prejudicial to revenue, invoking s 263. ITAT noted HC precedents in IL & FS Energy Development Company Limited and Era Infrastructure (India) Limited supporting assessee's position, which PCIT ignored. HC held assessment order cannot be deemed erroneous and prejudicial to revenue interest. Court concluded AO's view was plausible and did not warrant interference u/s 263. No substantial question of law arose. Appeal dismissed. en-us Mon, 14 Jul 2025 00:00:00 +0530 Thu, 17 Jul 2025 08:19:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=774993 Delhi HC upheld ITAT's decision dismissing CIT's revision u/s 263 regarding disallowance u/s 14A. AO had accepted assessee's contention that no disallowance u/s 14A was required as assessee had no exempt income during AY 2018-19. PCIT found this erroneous and prejudicial to revenue, invoking s 263. ITAT noted HC precedents in IL & FS Energy Development Company Limited and Era Infrastructure (India) Limited supporting assessee's position, which PCIT ignored. HC held assessment order cannot be deemed erroneous and prejudicial to revenue interest. Court concluded AO's view was plausible and did not warrant interference u/s 263. No substantial question of law arose. Appeal dismissed. Case-Laws Income Tax Mon, 14 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=774993