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2022 (5) TMI 1411 - ITAT CUTTACKRevision u/s 263 - whether proceedings u/s 263 can be initiated when the matter is already pending for appeal with the CIT(A)? - HELD THAT:- Respectfully following the decision of Coordinate bench of ITAT Jaipur [2022 (5) TMI 351 - ITAT JAIPUR] which is squarely applicable in the present case, accordingly provisions of Section 263 are correctly and lawfully invoked by the Ld PCIT and therefore, we dismiss this ground of the assessee. Whether the revisionary proceedings u/s 263 of the IT Act 1961 are bad in law in absence of any new fact, information, corroborative evidence or materials being made available by the Ld PCIT? - On perusal of the Order of CIT, it is emerged that the Ld AO has under assessed the income of the assessee which is evident from records that a disallowance was made u/s 80P(2)(a)(i) but the same has been escaped to be added in the taxable income of the assessee. Therefore the assessment order passed by the AO is deemed to be erroneous in so far as it is prejudicial to the interest of revenue and revisionary powers assumed by the PCIT in this case are justified. Deduction of Tax Source from the Commission to Agents was not responded by the assessee, however the same has been restored back to the AO with directions to make fresh assessment with a reasonable opportunity of being heard and to furnish required details and submissions. We observe that Ld PCIT has rightly decide the matter in the interest of justice, therefore we do not find it fit to interfere with the order of the Ld PCIT, accordingly this ground of assessee is also dismissed.
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