CIT Lacks Jurisdiction for Revision: Assessment Order Must Be Both Prejudicial and Erroneous u/s 263 of Income Tax Act.

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....Revision u/s 263 - an order prejudicial and erroneous to the revenue - though the order passed by the A.O. is prejudicial to the interest of the revenue but it is not erroneous, therefore, the CIT cannot assume jurisdiction to revise the assessment order passed by the A.O. u/s 143(3) - AT....