https://www.taxtmi.com/caselaws?id=782279 ITAT Hyderabad allowed the assessee's appeal, quashing the revision order passed u/s 263. It held that the AO had conducted due and exhaustive inquiry regarding the assessee's claim for deduction u/s 80P, examined records including prior years, and allowed the deduction only after being satisfied that income was from business with members. Since the AO's view was a plausible and permissible one, the assessment could not be treated as erroneous merely because the Principal CIT disagreed. The earlier disallowances were based on different factual circumstances. The Principal CIT's direction to set aside and redo the assessment was held unsustainable. en-us Wed, 30 Jul 2025 00:00:00 +0530 Tue, 25 Nov 2025 13:12:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782279 ITAT Hyderabad allowed the assessee's appeal, quashing the revision order passed u/s 263. It held that the AO had conducted due and exhaustive inquiry regarding the assessee's claim for deduction u/s 80P, examined records including prior years, and allowed the deduction only after being satisfied that income was from business with members. Since the AO's view was a plausible and permissible one, the assessment could not be treated as erroneous merely because the Principal CIT disagreed. The earlier disallowances were based on different factual circumstances. The Principal CIT's direction to set aside and redo the assessment was held unsustainable. Case-Laws Income Tax Wed, 30 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782279