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2021 (2) TMI 1334 - AT - Income TaxRevision u/s 263 by CIT - addition u/s 68 of share capital received along with share premium - HELD THAT:- we follow the order of the ITAT in the assessee’s own case for the Assessment Year 2013-14 [2021 (3) TMI 217 - ITAT KOLKATA], wherein, the ITAT had held his is not a case of non-applicability of mind or non-verification. The Assessing Officer has taken a possible view. When the Assessing Officer follows the direction of the ld. Pr. CIT, in his order passed u/s 263 of the Act, no revision can be done u/s 263 of the Act on the ground that the Assessing Officer has not travelled beyond these directions. We hold that the exercise of the revisionary powers by the ld. Pr. CIT u/s 263 is bad in law. Hence, we quash the same. Decided in favour of assessee.
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