Order passed after due application of mind cannot be subjected to section 263 proceeding  

Jhunjhunu Karya Vikrya Sahakari Samiti Limited Vs PCIT (ITAT Jaipur) CIT has subjected the assessment order to revision proceedings on the short ground that the Assessing Officer passed the assessment order ‘is erroneous in so far as it prejudicial to the interest of revenue as the said order has been passed by the assessing officer in a routine and perfunctory manner without examining the issue of deduction u/s. 80(P)(2)(d) of the Act.’ Thus, the main question centers on whether action of the assessing officer in allowing the claim of the assessee us/s. 80(P)(2)(d) is found faulte...