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2019 (12) TMI 1336 - AT - Income TaxValidity of power of revision exercised by PCIT u/s 263 - assessment was completed by the AO under limited scrutiny assessment - Large other expenses claimed in the Profit and Loss account and Mismatch between income/receipt credited to profit and loss account considered under other heads of income and income from heads of income other than business of profession - HELD THAT:- AO not following procedure prescribed in Sub Clause (d) of Clause of 3 of said CBDT instruction would render the assessment order erroneous and prejudicial to the interests of the Revenue, thereby confirming the jurisdiction on ld. PCIT u/s.263. As regards to the decision of Co-ordinate Bench of the Tribunal in the case of Smt. Padmavathi [2019 (12) TMI 399 - ITAT CHENNAI] to which one of us i.e. the Accountant Member is the author of the order. In the said decision the Tribunal had rendered decision overlooking exceptional clause carved out in Sub Clause (d) of Clause 3 of CBDT Instruction No.20/2015, dated 29.12.2015. Decision is per incuriam. It is needless to say that an order which is per incuriam has no precedential value. In the circumstances, we are of the considered opinion that ld. PCIT was justified in exercising the jurisdiction vested with him u/s.263 - Appeal filed by the assessee stands dismissed.
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