The ITAT partially allowed the assessee's appeal against...

The ITAT partially allowed the assessee's appeal against revision under section 263. Regarding bonus payment of Rs. 2.02 crores, the Tribunal found that the AO had properly examined this issue during assessment proceedings, and the assessee had demonstrated payment before the return filing due date in compliance with section 43B. However, concerning interest expenses on PFC loans amounting to Rs. 17.91 crores, the Tribunal upheld the PCIT's finding that the AO erred in allowing unpaid interest without proper examination, violating section 43B requirements. On the third issue of Capital Grants & Subsidies and Consumer Contribution write-backs, the Tribunal rejected the PCIT's contention of shortfall, accepting the assessee's demonstration that the correct amounts were properly accounted for.