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2022 (3) TMI 1447 - AT - Income TaxRevision u/s 263 - deduction u/s 54 - submission that the assessee had constructed two residential houses and if at all what was available is only exemption u/s 263 in respect of one residential house - HELD THAT:- A perusal of the order u/s 263 of the Act clearly shows that even before the Pr. CIT the assessee had brought out the issue as also the decision in the case of Gita Duggal [2013 (3) TMI 101 - DELHI HIGH COURT] but the Pr. CIT has not countered the said decision either but has proceeded in para 7 to say that proper verification has not been done. In fact the wordings used by the Pr. CIT are “it appears from the records. The words of Section 263 of the Act are “if he considers that any order passed by the AO is erroneous in so far as it is prejudicial to the interest of Revenue”. There is no question of making a prima facie view in the revision order. The error has to be specific. Also the issue raised by the Pr.CIT in the present case being a highly debatable issue the same cannot be considered as an issue which is erroneous or prejudicial to the interest of Revenue. Consequently, as the AO has taken one of the possible views it is not susceptible to the provision of revision under section 263 of the Act. The order passed under Section 263 stands quashed. Appeal filed by the assessee is allowed.
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