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2017 (8) TMI 952 - AT - Income TaxRevision u/s 263 - proof of order passed u/s 143(3) as erroneous and prejudicial to the interest of the revenue - Held that:- We find that in this case the assessee has been receiving rental income from the six properties which are being shown under the head income from house property and has been accepted by the department in the earlier years. In some cases, the agreements were executed in the earlier years. We further find that the ld. CIT assumed the jurisdiction u/s 263 of the Act without pointing out as to how the conditions precedents to invoking the revisionary power have been satisfied. How the order of AO is erroneous and prejudicial to the interest of revenue. The ld. CIT has simply stated that the AO should have examined the issue whether the income from property was assessable under the head income from house property or business income. The CIT was also completely failed to point out as to how the assessment u/s 143(3) of the Act was erroneous so as to be prejudicial to the interest of the revenue and therefore the power exercised by the Commissioner u/s 263 of the Act was without any valid reason or justification. Moreover, the details of the rents along with the agreements with the tenants were called for by the AO during the course of assessment proceedings and only after examining the same the assessment order u/s 143(3) was framed. - Decided in favour of assessee.
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