ITAT has no power u/s 254 (2) to re-evaluate correctness on merits of earlier decision

The assessee claimed deduction u/s 80HHC which was allowed to the extent of Rs. 32.17 crs by the AO. The claim included DEPB license sale proceeds. The CIT revised the assessment u/s 263 on the ground that s. 28 (iiia) did not apply to a DEPB license and its proceeds were not eligible for deduction u/s 80HHC. The assessee filed an appeal before the Tribunal where it relied on the judgements in Pratibha Syntax Ltd vs. JCIT 81 ITD 118 and Pink Star Vs. DCIT 27 ITD 137 to argue that the DEPB license would form part of the incentiv

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