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2022 (7) TMI 853 - AT - Income TaxRevision u/s 263 by CIT - withdraw the credit of TDS claimed and allowed in assessment completed under Section 143(3) of the Act with a direction to the AO to allow the same in the year when the corresponding income was offered by the assessee to tax after necessary verification - HELD THAT:- Issues pointed out by the PCIT in his impugned order were not that material or relevant to examine the claim of the assessee for deduction on account of land vacation compensation charges, and since the factual position which the learned PCIT wanted the AO to ascertain by making inquiry was clearly evident from the details and documents already filed by the assessee during the course of assessment proceedings including the agreement for vacating and handover, we are of the view that it is not a case where the AO can be said to have passed the order u/s 143(3) of the Act without inquiries or verification which should have been made in the facts and circumstances of the case as envisaged in Explanation 2(a) to Section 263 - In our opinion, there was thus no error in the order of the Assessing Officer passed under Section 143(3) of the Act on this issue as alleged by the learned PCIT calling for revision under Section 263 of the Act. We accordingly cancel the impugned order passed by the learned PCIT u/s 263 to the extent it revises the order of the Assessing Officer passed under Section 143(3) of the Act on the issue of assessee’s claim for deduction on account of land vacation compensation charges. We, however, uphold the said order passed u/s 263 of the Act on the issue of the claim of the assessee for credit of TDS as the same was wrongly allowed by the Assessing Officer in the assessment order passed under Section 143(3) of the Act as agreed even by the learned Counsel for the assessee at the time of hearing before us. Appeal of the assessee is partly allowed.
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