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2003 (7) TMI 290 - AT - Income TaxExtract: .......come from business by the AO. Thus twin conditions for exercise of jurisdiction under s. 263, i.e., (i) the order of the AO is erroneous and (ii) that it is prejudicial to the interest of the Revenue are not satisfied. Therefore, order passed by the learned CIT under s. 263(1) of the Act. is hereby quashed. 15. In the result, the appeal is allowed.
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