https://www.taxtmi.com/caselaws?id=783115 ITAT Delhi-AT allowed the assessee's appeal and quashed the revisionary order u/s 263 passed by PCIT. It held that the AO's computation sheet correctly reflected the taxable long-term capital gain after reducing the amount already disclosed in the return, whereas the higher figure in the body of the assessment order was an apparent mistake arising from adoption of gross LTCG. Since the assessment order, as per the computation sheet, was neither erroneous nor prejudicial to the interests of the Revenue, the foundational jurisdictional requirement for invoking s.263 was not satisfied. en-us Fri, 28 Nov 2025 00:00:00 +0530 Wed, 10 Dec 2025 08:41:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=783115 ITAT Delhi-AT allowed the assessee's appeal and quashed the revisionary order u/s 263 passed by PCIT. It held that the AO's computation sheet correctly reflected the taxable long-term capital gain after reducing the amount already disclosed in the return, whereas the higher figure in the body of the assessment order was an apparent mistake arising from adoption of gross LTCG. Since the assessment order, as per the computation sheet, was neither erroneous nor prejudicial to the interests of the Revenue, the foundational jurisdictional requirement for invoking s.263 was not satisfied. Case-Laws Income Tax Fri, 28 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=783115