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2023 (12) TMI 698 - ITAT CUTTACKRevision u/s 263 - unexplained cash deposit - original assessment order passed u/s. 144 challenged - HELD THAT:- A perusal of the order of the ld. Pr.CIT shows that the ld. Pr.CIT in his order has categorically mentioned that he has restored the matter to the AO to have a second look at the issue and draw appropriate conclusions. The requirement under the provisions of Section 263 of the Act is “prejudicial and erroneous order”. The ld. Pr.CIT has not shown how the original assessment order passed u/s. 144 of the Act was erroneous or prejudicial to the interest of revenue for the purpose of relooking at the issue. Therefore, the provisions of Section 263 of the Act cannot be invoked. Consequently, the order u/s. 263 of the Act passed by the ld. Pr.CIT stands quashed. Appeal of the assessee is allowed.
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