PCIT\u00a0 set aside the order of the AO in respect of three issues . On appeal the Tribunal held that\u00a0as regards first issue did not result in any revenue loss hence assumption of jurisdiction is held to be not valid . As regards the second issue the assessee has shown\u00a0 the income under the head income from other sources , directing the AO to assessee the income as undisclosed income is held to be without jurisdiction . As regards the applicability of S.45(2) the CIT had accepted applicability of the said provision, hence no error in the order of the AO . Further \u00a0the AO has passed the order after detailed inquiry hence , revision order was quashed . On appeal by the revenue , High Court affirmed the order of the Tribunal. (ITA No 2881 \/Mum\/ 2015 dt 14 -05 2015 ) (ITA No . 1740 of 2017 dt \u00a022-01 -2020 ( AY. 2010 -11)<\/p>\n
\u00a0<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" S. 263 : Commissioner – Revision of orders prejudicial to revenue \u2013 No loss to revenue \u2013 Assessment after detailed inquiry \u2013 Revision is held to be not valid [ S. 45(2), 143(3) ] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-10892","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-2PG","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/10892","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=10892"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/10892\/revisions"}],"predecessor-version":[{"id":10893,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/10892\/revisions\/10893"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=10892"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=10892"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=10892"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}