2008 (2) TMI 373 - GUJARAT HIGH COURT

Jurisdiction of CIT to pass order u/s 263 - preconditions for exercise of jurisdiction u/s 263 were not fulfilled – AO partially disallowing the claim u/s 80I – Commissioner (Appeals) allowed the appeal of assessee against the AO’s order – subsequently, Commissioner u/s 263 in revision order disallowed the claim – since it is not a case of an order prejudicial to revenue, Tribunal is not justified in upholding the exercise of powers under section 263 by Commissioner of Income Tax to be valid