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2018 (12) TMI 1587 - AT - Income TaxRevision u/s 263 - Assessment u/s 153C - AO’s power u/s 153A - Held that:- D.R has placed his reliance on the provisions of Explanation given u/s 153A(2) in order to contend that all other provisions of the Act shall apply to the assessment framed u/s 153C. We have noticed that the scope of assessment u/s 153A in respect of unabated assessments has since been settled by Hon’ble jurisdictional High Court in the case of Continental warehousing Corporation[2015 (5) TMI 656 - BOMBAY HIGH COURT]. The Explanation given u/s 153A(2), in our view, does not expand the scope of assessment u/s 153A of the Act beyond what was interpreted by Hon’ble Bombay High Court. Thus Pr. CIT was not correct in law in passing the impugned revision orders as the assessment orders passed by the AO in these years, which fall under the category of unabated years, cannot be held to be erroneous and prejudicial to the interests of revenue. Accordingly we quash the revision orders passed by Ld CIT(A) for all the years under consideration. - Decided in favour of assessee.
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