https://www.taxtmi.com/caselaws?id=781331 ITAT held the revisional order under s.263 invalid and set aside PCIT's direction to disallow expenses under s.14A/Rule 8D. The Tribunal found PCIT wrongly presumed disallowance is automatic upon earning exempt income without seeking or recording dissatisfaction with the assessee's explanations; she also failed to assess the explanations or refer the matter back to the AO. Exercise of s.263 jurisdiction was therefore contrary to law. Appeal by the assessee allowed and the PCIT order quashed. en-us Tue, 09 Sep 2025 00:00:00 +0530 Fri, 14 Nov 2025 09:42:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=781331 ITAT held the revisional order under s.263 invalid and set aside PCIT's direction to disallow expenses under s.14A/Rule 8D. The Tribunal found PCIT wrongly presumed disallowance is automatic upon earning exempt income without seeking or recording dissatisfaction with the assessee's explanations; she also failed to assess the explanations or refer the matter back to the AO. Exercise of s.263 jurisdiction was therefore contrary to law. Appeal by the assessee allowed and the PCIT order quashed. Case-Laws Income Tax Tue, 09 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=781331