https://www.taxtmi.com/caselaws?id=117434 The Tribunal quashed the CIT's order under section 263, allowing the assessee's appeal. It concluded that the Assessing Officer had duly considered and verified the deferred revenue expenditure claim under section 37(1) of the Income-tax Act. The Tribunal determined that the CIT exceeded his jurisdiction by setting aside the assessment order without substantive grounds, emphasizing the necessity of thorough examination and due diligence in tax assessments. en-us Mon, 25 Jul 2005 00:00:00 +0530 Wed, 24 Apr 2024 14:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=117434 The Tribunal quashed the CIT's order under section 263, allowing the assessee's appeal. It concluded that the Assessing Officer had duly considered and verified the deferred revenue expenditure claim under section 37(1) of the Income-tax Act. The Tribunal determined that the CIT exceeded his jurisdiction by setting aside the assessment order without substantive grounds, emphasizing the necessity of thorough examination and due diligence in tax assessments. Case-Laws Income Tax Mon, 25 Jul 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=117434