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Revision u/s. 263 of Income Tax Act quashed as AO took plausible view

SEO Expert February 25, 2026

ITAT Bangalore held that revisionary power u/s. 263 of the Income Tax Act is not justifiable since AO took plausible view of treating the interest chargeable u/s 28 of the Act being attributable to the business & allowed the deduction claimed u/s 80P(2)(a)(i) of the Act. Accordingly, appeal is allowed.

The post Revision u/s. 263 of Income Tax Act quashed as AO took plausible view appeared first on TaxGuru.

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Previous: Section 11(3) Addition Partly Upheld: ₹1.24 Cr (AY 1994-95) Survives; Earlier Accumulations Nil; Matter Remanded to CIT(A) – ITAT Hyderabad
Next: ITAT Ahmedabad Modifies U/s 263; Share Purchase Cost Disallowance U/s 115BBE on Bogus LTCG Restored to CIT(A)

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