https://www.taxtmi.com/highlights?id=94297 ITAT allowed the appeal and set aside the s.263 revision order of the PCIT. The Tribunal held that Explanation 2 to s.263(1) was invoked by the PCIT in the final order without being specified in the show-cause notice or affording the assessee an opportunity to meet that specific contention, thereby violating principles of natural justice. In consequence, the invocation of Explanation 2 was unsustainable and rendered the revision order prejudicial and void. The s.263 order was quashed and the grounds of the assessee upheld, restoring the original reassessment outcome. en-us Wed, 19 Nov 2025 08:52:42 +0530 Wed, 19 Nov 2025 08:52:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=94297 ITAT allowed the appeal and set aside the s.263 revision order of the PCIT. The Tribunal held that Explanation 2 to s.263(1) was invoked by the PCIT in the final order without being specified in the show-cause notice or affording the assessee an opportunity to meet that specific contention, thereby violating principles of natural justice. In consequence, the invocation of Explanation 2 was unsustainable and rendered the revision order prejudicial and void. The s.263 order was quashed and the grounds of the assessee upheld, restoring the original reassessment outcome. Highlights Income Tax Wed, 19 Nov 2025 08:52:42 +0530 https://www.taxtmi.com/highlights?id=94297