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2022 (2) TMI 317 - AT - Income TaxRevision u/s 263 by CIT - second round before the ITAT - claim of exemption by the assessee under S. 10(23)(iiiac) denied - HELD THAT:- As per Income Tax Act, powers of ITAT are dealt with second appeal on all matters of direct tax including appeals against revisional order of the Administrative Commissioner as well as order denying the registration under S.12AA or 80G of the Act etc. Tribunal has been entrusted with the responsibility of deciding intricate question of law and facts and in case of facts, Tribunal is a final finding authority. Tribunal has categorically directed learned AO to examine the claim of the assessee under S. 10(23)(iiiac) of the Act and therefore decide as per law. In our considered opinion, learned PCIT has exceeded has power wherein ITAT has categorically given instruction to the AO. In such circumstances, the order under S.263 of the Act cannot be sustained. Thus, appeal of the assessee is allowed.
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