Sec. 10(10D) & 263 of Income-tax Act, 1961- Revision - The assessee filed the appeal against the order of CIT passed under s. 263 of the IT Act 1961 saying that CIT passed the same without considering the material fact that during the course of the assessment proceedings as the appellant had brought on record all the materials and evidences relating to the concerning issue and the same were duly verified by the AO after proper application of his mind. ITAT allowed the appeals of the assessee holding that:- Since twin conditions which are mandatorily required to be fulfilled by Principal CIT before passing the order under s. 263 of the Act remains unfulfilled as the order of the learned AO is neither erroneous nor prejudicial to the interest of Revenue. Therefore, Principal CIT was not correct in law in exercising the jurisdiction under s. 263 of the Act and cancelling the assessment. Accordingly quashed the impugned order passed under s. 263 of the Act, and restored the assessment order passed under s. 143(3) of the Act. - GURVINDER KAUR BHATIA (SMT.) V/s PR. CIT - [2020] 203 TTJ 859 (ITAT-INDORE).