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2018 (12) TMI 1752 - AT - Income TaxRevision u/s 263 - deduction u/s 10A - HELD THAT:- From the records, the AO has specifically raised query regarding exemption u/s 10A during the original assessment proceedings and all the details were given by the assessee during the assessment proceedings which is later on deleted by the CIT(A). These facts were present before the CIT while giving show cause notice u/s 263 of the Act. The order passed by the Commissioner in capacity of Section 263 is merely a second opinion and does not fall in the category of prejudicial to the interest of Revenue. Merely taking a second opinion on the issue which is already concluded by the Revenue Authorities cannot be a ground for invoking Section 263 - AO should have done this or that is not a prerogative while invoking Section 263 by the CIT. In the present case, AO has taken cognizance of all the material provided by the Assessee during the Assessment Proceedings and after verifying the same has passed just and proper order. Therefore, in light of the above findings, the order of the Commissioner u/s 263 of the Act is set aside. - Decided in favour of assessee.
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