https://www.taxtmi.com/caselaws?id=781164 ITAT DELHI - AT quashed the PCIT's revision under s.263 seeking to reclassify rent from house property as business income. The Tribunal held PCIT failed to ascertain the jurisdictional fact that treating receipts as business income could invite depreciation claims and cause revenue loss, and made no concrete findings after inquiry. Applying the jurisdictional HC precedent, the Tribunal found neither condition for revision under s.263-error in the AO's order nor prejudice to revenue-was established; the remand to the AO exceeded PCIT's s.263 powers and was unsustainable. en-us Fri, 12 Sep 2025 00:00:00 +0530 Wed, 12 Nov 2025 08:17:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=781164 ITAT DELHI - AT quashed the PCIT's revision under s.263 seeking to reclassify rent from house property as business income. The Tribunal held PCIT failed to ascertain the jurisdictional fact that treating receipts as business income could invite depreciation claims and cause revenue loss, and made no concrete findings after inquiry. Applying the jurisdictional HC precedent, the Tribunal found neither condition for revision under s.263-error in the AO's order nor prejudice to revenue-was established; the remand to the AO exceeded PCIT's s.263 powers and was unsustainable. Case-Laws Income Tax Fri, 12 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=781164