9911796707
TMI Blog2024 (11) TMI 862X X X X Extracts X X X X X X X X Extracts X X X X ..... has already been observed by the learned PCIT in his order, there remains no ambiguity that the assessee has not claimed the benefit of deduction of the impugned expenses in its P L Account. Thus, we hold that once no deduction has been claimed by the assessee of the impugned expenses in the P L Account, then we are of the view that even the order is held as erroneous for any reason, the same cannot be held as prejudicial to the interest of Revenue. Accordingly, we are of the considered view that the twins conditions being erroneous in so far prejudicial to the interest of Revenue have not been satisfied which was mandatory for invoking the provisions of section 263. Accordingly, we hold that the order framed by the learned PCIT u/s 263 is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... contentions of both the parties and perused the materials available on record. Considering the fact that the delay in filing the appeal by the assessee was attributable to the Auditor, which is supported by the affidavit of the Auditor. Accordingly, we hold that there was sufficient cause which prevented the assessee from filing the appeal within the stipulated time. Accordingly, we deem it fit to condone the delay and proceed to adjudicate the issue on merit. 5. The learned PCIT on examination of the assessment records u/s 263 of the Act found that the assessee has claimed deduction of capital expenditure amounting to Rs. 1,20, 87,830/- and Rs. 80,51,962/-, the fact of which has not been verified by the AO during the assessment proceeding ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al to the interest of Revenue. On a perusal of the order of the learned PCIT, we note that the learned PCIT has observed that the expenses in dispute have already been capitalized by the assessee in the books of account. Since this fact has already been observed by the learned PCIT in his order, there remains no ambiguity that the assessee has not claimed the benefit of deduction of the impugned expenses in its P L Account. Thus, we hold that once no deduction has been claimed by the assessee of the impugned expenses in the P L Account, then we are of the view that even the order is held as erroneous for any reason, the same cannot be held as prejudicial to the interest of Revenue. Accordingly, we are of the considered view that the twins c ..... X X X X Extracts X X X X X X X X Extracts X X X X
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