Bench: Hon’Ble Kul Bharat & Hon’Ble Manish Borad
Capital Gain. Therefore the assessment order of Ld. A.O dated 22.12.2016 cannot be held to be erroneous in so far as prejudicial to the interest of revenue. We thus quash the impugned orders u/s 263 of the Act as the action of Ld. PCIT is contrary to the ratio laid down by the binding precedence and restore the assessment order