https://www.taxtmi.com/caselaws?id=778886 ITAT DELHI - AT held that the PCIT erred in invoking revision proceedings under section 263 while the issue of taxability of EDC payments to the development authority was pending before the first appellate authority; there was no prejudicial error in the AO's order and the matter was debatable, so revision was unwarranted and decision favoured the assessee. The Tribunal also concurred with the view that section 194C applies to EDC payments, noting earlier authority where 194C invocation on such payments was upheld; AO's original treatment at higher 10% rate was not shown to be prejudicial. en-us Fri, 19 Sep 2025 00:00:00 +0530 Mon, 22 Sep 2025 16:51:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=778886 ITAT DELHI - AT held that the PCIT erred in invoking revision proceedings under section 263 while the issue of taxability of EDC payments to the development authority was pending before the first appellate authority; there was no prejudicial error in the AO's order and the matter was debatable, so revision was unwarranted and decision favoured the assessee. The Tribunal also concurred with the view that section 194C applies to EDC payments, noting earlier authority where 194C invocation on such payments was upheld; AO's original treatment at higher 10% rate was not shown to be prejudicial. Case-Laws Income Tax Fri, 19 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=778886