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2014 (7) TMI 551 - AT - Income TaxJurisdiction u/s 263 of the Act - Claim of deduction u/s 80IA of the Act – Held that:- CIT has wrongly considered the assessment order as erroneous and prejudicial to the interests of the revenue - assessee had filed revised return making higher claim, the AO has not considered it and has passed the order allowing the original claim only - The apprehension of the CIT that ‘non-consideration of revised return at the time of assessment is a mistake’ cannot be accepted as the so-called mistake has not been rectified, so far - the order of CIT setting aside the assessment cannot be upheld - AO has to re-do assessment after considering the claims made in the revised return of income by the assessee which means, the order of CIT may lead to a situation where it can be a prejudicial order to the interests of revenue, but not the original assessment order which was revised – thus, the order of the AO cannot be considered as erroneous and prejudicial to the interests of revenue – thus, the order of the CIT as twin conditions for invoking jurisdiction u/s 263 have not been complied with and restore the order of AO – Decided in favour of Assessee.
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