https://www.taxtmi.com/caselaws?id=118568 The Tribunal allowed the appeal, vacating the CIT's order passed under section 263 of the I.T. Act, holding that the AO's order was not erroneous or prejudicial to the interest of revenue. The Tribunal found that the AO had correctly appreciated the facts, made detailed inquiries, and applied the correct law. The Tribunal concluded that the AO had taken a permissible legal view, considering all relevant legal precedents, and therefore, the order was upheld. en-us Thu, 08 Dec 2005 00:00:00 +0530 Fri, 04 Jan 2019 14:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=118568 The Tribunal allowed the appeal, vacating the CIT's order passed under section 263 of the I.T. Act, holding that the AO's order was not erroneous or prejudicial to the interest of revenue. The Tribunal found that the AO had correctly appreciated the facts, made detailed inquiries, and applied the correct law. The Tribunal concluded that the AO had taken a permissible legal view, considering all relevant legal precedents, and therefore, the order was upheld. Case-Laws Income Tax Thu, 08 Dec 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=118568