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TMI Blog2024 (12) TMI 1255X X X X Extracts X X X X X X X X Extracts X X X X ..... hority is not only supposed to see the assessment record of AO, but also the record of the approval which as far as the revisional authority is concerned becomes record of the quasi judicial authority whose order is being examined by invoking the revisional jurisdiction. Therefore, without giving a finding that the prior approval u/s 153D was vitiated and was also erroneous so far as prejudicial to the interest of the Revenue, the assessment order independently cannot be held to be erroneous so far as prejudicial to the interest of the Revenue. Thus, we hold that the revision order passed u/s 263 of the Act by the ld PCIT deserves to be quashed and is hereby quashed. Accordingly, grounds raised by the assessee are allowed. - Shri Satbeer ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eedings were completed on 31.03.2022 u/s 153C of the Act determining income of Rs. 6,71,48,270/-. The assessee had preferred an appeal before National Faceless Appeal Centre (NFAC) and the same is pending. Pending this appeal, the ld PCIT sought to revise the order passed by the ld AO dated 31.03.2022 by treating the order passed by the ld AO erroneous and prejudicial to the interest of the revenue. 4. Admittedly, the assessment order sought to be revised was framed by the ld AO u/s 153C of the Act on 31.03.2022 and this assessment was framed after obtaining the prior approval of the ld Additional CIT, Central Range-7, New Delhi vide letter F. No. ADDL.CIT/CR-7/153D/2021-22/1759 dated 30.03.2022. This approval obtained from the ld Addl. CIT ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng a finding that the prior approval u/s 153D was vitiated and was also erroneous so far as prejudicial to the interest of the Revenue, the assessment order independently cannot be held to be erroneous so far as prejudicial to the interest of the Revenue. 9.1 The catena of judicial pronouncements relied by the ld. AR have also laid down the same proposition of law and we will like to refer specifically to the judgement of the Hon'ble Madras High Court in the case of PCIT vs. Prakhar Developers (P) Ltd. (supra) where the Hon'ble Madras High Court has taken into consideration the fact that the Pune Bench order in the case of Ramamoorthy Vasudevan v. PCIT [IT Appeal Nos. 967 968/Pune/2016] wherein it was held that the order passed by t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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