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2023 (7) TMI 408 - DELHI HIGH COURTRevision u/s 263 - assessee obtained registration u/s 12A and u/s 80(G)(5)(vi) - whether the amount, which, to begin with, was given by one of the trustees in the form of unsecured loans, and which was later on converted to contribution, should have formed the basis for exercising revisional powers? - ITAT recorded that the AO had considered the response of the respondent/assessee and then taken a view in the matter - HELD THAT:- For exercise of powers u/s 263 it is well established that, not only the order passed by the AO would have to be categorised as erroneous, but it also has to be prejudicial to the interests of the revenue. As noted above, CIT(E) simply took recourse to the provisions of Section 263 of the Act because the AO had acted in a hurried and hasty manner. It is not in dispute that in the previous AYs, i.e., 2006-07, 2007-08, 2009-10, 2010-11 and 2011-12, the Tribunal has allowed the appeal of the respondent/assessee pertaining to the issue concerning denial of exemption under Section 11 of the Act on account of purported violation of provisions of Section 13(1)(c), read with Section 13(3) of the Act. Although Appellant says that the appeal was not preferred to this court against the order of the Tribunal because of low tax effect, it was not stated why was the revenue not alert, as it claims now, in exercising powers under Section 263 of the Act. no substantial question of law arises for consideration in the present appeal. No substantial question of law.
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