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2010 (5) TMI 547 - AT - Income TaxRevision - Scrutiny - Disallowance - The assessee is an investment company and during the relevant year it had income mainly from house property, income from business and capital gains - it is observed that the allowability of the said expenditure was disputed/doubted by the ld. CIT on the basis that there was no business activity of the assessee company in foreign countries - There was thus no error in the assessment order passed by the A.O. on this issue as alleged by the ld. CIT warranting any revision u/s 263 - The ld. D.R., has made an attempt to support the impugned order of the ld. CIT passed u/s 263 on the new ground which was not there given by ld. CIT in the notice issued u/s 263 to the assessee - In the case of CIT vs. L.F.D.'Silva, 192 ITR 547 - Accordingly held that there was no error in the assessment order passed by the A.O. u/s 143(3) as alleged by the ld. CIT in the notice issued u/s 263 and this being so, the ld. CIT was not justified in revising the said assessment - In the result, appeal of the assessee is allowed
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