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2023 (6) TMI 1168 - ITAT DEHRADUNRevision u/s 263 by CIT - denial of claim of deduction u/s 80IC in respect of exchange rate fluctuation income, interest income and insurance claim - HELD THAT:- As we find that the impugned order passed under section 263 of the Act by learned PCIT is dated 15.03.2017. Certainly, the giving effect order to section 263 of the Act should have been passed by learned Assessing Officer by this time. DR before us was not able to provide any details with regard to the fact as to what happened in the giving effect proceedings. The assessee also was not present to explain the status of giving effect proceedings. Hence, in absence of details of the giving effect proceedings before us, we deem it fit and appropriate, in the interest of justice and fair play to modify the revision order passed by learned PCIT by simply setting aside the assessment order dated 20.01.2015, instead of cancelling the same. Assessing Officer is directed only to examine afresh the eligibility of claim of deduction under section 80IC of the Act in respect of the aforesaid three receipts, uninfluenced by earlier decisions taken by him, if any. The order passed by learned PCIT under section 263 of the Act is modified. Decided partly in favour of assessee for statistical purposes.
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