https://www.taxtmi.com/caselaws?id=464500 ITAT DELHI - AT set aside the PCIT's revision under s.263 and sustained the AO's order framed u/s 153A, allowing the assessee's appeal. The Tribunal held the assessment was completed/unabated at the time of search and no incriminating material was found to justify reopening or disallowance of the indexed cost of acquisition for LT capital gains. Absent incriminating material, AO lacked jurisdiction to disturb the completed assessment and PCIT could not enlarge reassessment scope; reassessment remedy under s.147/148 alone remained. en-us Wed, 30 Jul 2025 00:00:00 +0530 Tue, 28 Oct 2025 18:22:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=464500 ITAT DELHI - AT set aside the PCIT's revision under s.263 and sustained the AO's order framed u/s 153A, allowing the assessee's appeal. The Tribunal held the assessment was completed/unabated at the time of search and no incriminating material was found to justify reopening or disallowance of the indexed cost of acquisition for LT capital gains. Absent incriminating material, AO lacked jurisdiction to disturb the completed assessment and PCIT could not enlarge reassessment scope; reassessment remedy under s.147/148 alone remained. Case-Laws Income Tax Wed, 30 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=464500