https://www.taxtmi.com/caselaws?id=203499 The Tribunal found in favor of the assessee in a case involving the incorrect allowance of deduction under section 80-IB by the Assessing Officer without proper verification. The Commissioner's order under section 263, setting aside the assessment orders as erroneous and prejudicial to the Revenue's interest, was challenged. The Tribunal determined that the assessment was not both erroneous and prejudicial, as the commencement date of construction met statutory requirements. By considering the District Collector's permission, the Tribunal concluded that the deduction was rightfully allowed, leading to the setting aside of the Commissioner's order in favor of the assessee. en-us Fri, 02 Jul 2010 00:00:00 +0530 Mon, 13 Jun 2011 16:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=203499 The Tribunal found in favor of the assessee in a case involving the incorrect allowance of deduction under section 80-IB by the Assessing Officer without proper verification. The Commissioner's order under section 263, setting aside the assessment orders as erroneous and prejudicial to the Revenue's interest, was challenged. The Tribunal determined that the assessment was not both erroneous and prejudicial, as the commencement date of construction met statutory requirements. By considering the District Collector's permission, the Tribunal concluded that the deduction was rightfully allowed, leading to the setting aside of the Commissioner's order in favor of the assessee. Case-Laws Income Tax Fri, 02 Jul 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=203499