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2019 (11) TMI 34 - AT - Income TaxRevision u/s 263 - order of the AO as erroneous insofar prejudicial to the interest of revenue for wrongful deduction claimed and allowed to the assessee under section 80IB of the Act in the assessment framed under section 143(3) - HELD THAT:- AO during the assessment proceedings has required the assessee to furnish the details of the deduction claimed under section 80IB(10) and the assessee in response to the above notice has made the submission vide letter dated 7-1-2015 as detailed. Assessee has made the disclosure in the tax audit report in form 3CD about the projects and corresponding deduction claimed under section 80IB(10) of the Act and details of the units sold/unsold which is placed on pages 9 to 21 of the PB. In view of the above, we hold that the assessment order was framed under section 143(3) of the Act after due verification by the AO. Accordingly, we are of the view that the order of the AO cannot be held as erroneous insofar prejudicial to the interest of the Revenue on account of non-verification of the facts - Decided in favour of assessee.
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