Section 263 Revision Quashed for Substituting PCIT’s Opinion Over AO’s Due Inquiry

Mamasaheb Khandge Nagri Sahakari Vs PCIT (ITAT Pune) 263 Revision Quashed on 80P Interest: Pune ITAT Holds PCIT Can’t Overrule Settled Law for Credit Co-op Societies; Section 263 Revision Quashed for Substituting PCIT’s Opinion Over AO’s Due Inquiry; Revision Under Section 263 Held Invalid as Deduction Under Section 80P Was Lawfully Examined; Section 263 Cannot Be Invoked When AO’s View on Section 80P Is Supported by Consistent Precedents; PCIT’s Revision Set Aside as Exercise Under Section 263 Was a Futile and Academic Exercise; Revision Order Invalid for Violating Rule of Consisten...