Form 26AS evidence requires successor-entity accounting verification after business transfer, while invoice-supported related-party advertising expend...
Money-laundering judgment timing requires awaiting the scheduled-offence decision despite continuation of the underlying trial where outcomes directly...
Accredited investor eligibility expands through securities-market exposure, while alternative investment fund disputes require prescribed resolution a...
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The ITAT allowed the assessee's appeal against revision u/s 263 by the CIT. The AO had rightly allowed deduction u/s 57 after detailed inquiry. The CIT cannot substitute his view for the AO's well-reasoned order. Explanation 2(a) to Sec. 263 does not give unfettered revision powers. The AO's order was not erroneous or prejudicial to revenue interests.
The ITAT allowed the assessee's appeal against revision u/s 263 by the CIT. The AO had rightly allowed deduction u/s 57 after detailed inquiry. The CIT cannot substitute his view for the AO's well-reasoned order. Explanation 2(a) to Sec. 263 does not give unfettered revision powers. The AO's order was not erroneous or prejudicial to revenue interests.
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