Revision order passed u/s. 263 unacceptable as based on reassessment order which itself is unsustainable: ITAT Delhi

Daya Rani Vs PCIT (ITAT Delhi) ITAT Delhi held that once the reassessment order passed by AO is not sustainable in the eyes of law, any revision order passed u/s. 263 of the Income Tax Act seeking to revise such reassessment order cannot be accepted in the eyes of law. Accordingly, revision order passed u/s. 263 quashed. Facts- The assessment of the assessee for the Asst Year 2011-12 was completed u/s 143(3) r.w.s 147 of the Act on 16/11/2019. Thereafter, notice was issued u/s. 148. Post considering the reply, AO in the reassessment proceedings made no additions. Thereafter, the reassessment w...