https://www.taxtmi.com/caselaws?id=778625 ITAT MUMBAI dismissed the PCIT's revision under s.263 challenging the AO's refusal to disallow expenses under s.14A, holding that where the AO conducted enquiries and adopted a possible view-consistent with HC and tribunal precedents-CIT cannot invoke s.263. The Tribunal found no materials showing the assessment was erroneous or prejudicial to Revenue, and held that initiation of revision for fishing or roving enquiries is impermissible. The PCIT's order was set aside and the taxpayer's appeal was allowed. en-us Fri, 17 Jan 2025 00:00:00 +0530 Fri, 19 Sep 2025 08:33:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=778625 ITAT MUMBAI dismissed the PCIT's revision under s.263 challenging the AO's refusal to disallow expenses under s.14A, holding that where the AO conducted enquiries and adopted a possible view-consistent with HC and tribunal precedents-CIT cannot invoke s.263. The Tribunal found no materials showing the assessment was erroneous or prejudicial to Revenue, and held that initiation of revision for fishing or roving enquiries is impermissible. The PCIT's order was set aside and the taxpayer's appeal was allowed. Case-Laws Income Tax Fri, 17 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=778625