Held that the Assessing Officer has allowed the claim of deduction under S. 54F, after conducting an enquiry by examining the documentary evidences submitted by the assessee. Tribunal held that the order of the AO cannot be branded as erroneous and prejudicial to the interests of the Revenue, hence exercise of jurisdiction under s. 263 by the Principal CIT was not valid. (AY.2016-17)
Shanti Lal Deora v. ACIT (2022) 220 TTJ 251 (Jodhpur)(Trib)
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Proper enquiry was conducted in the original assessment proceedings-Merely because the CIT does not feel satisfied with the conclusion cannot be the basis for revision-Order of revision was quashed [S. 54, 54F, 143(3)]