In absence of error causing prejudice to Revenue, Section 263 order passed by CIT(E) is not sustainable

Society For Dental Health Vs ITO (ITAT Ahmedabad) On perusal of the findings of the Ld. CIT(E) and the contentions of the assessee, we find that while assessee had included endowment funds grants received from the Government in its total receipts to demonstrate that it was substantially financed by the Government, Ld. CIT(E) has excluded the endowment grants while calculating the percentage of Government financing and while doing so has given no reasons for excluding the same. There is therefore, we find no basis given by the Ld. CIT(E) for rejecting the claim of the assessee that it was entit...