https://www.taxtmi.com/caselaws?id=204271 The Tribunal set aside the CIT's order under section 263, ruling that the AO's assessment was not erroneous or prejudicial to revenue. The Tribunal upheld the allowances for the cost of improvement of leasehold assets written off and advances against rental properties written off, stating they were valid business expenses. The Tribunal found the prior period expenses issue inconclusive as the CIT sought further verification. The appeal of the assessee was allowed with no costs imposed. en-us Tue, 13 Apr 2010 00:00:00 +0530 Tue, 17 May 2011 12:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=204271 The Tribunal set aside the CIT's order under section 263, ruling that the AO's assessment was not erroneous or prejudicial to revenue. The Tribunal upheld the allowances for the cost of improvement of leasehold assets written off and advances against rental properties written off, stating they were valid business expenses. The Tribunal found the prior period expenses issue inconclusive as the CIT sought further verification. The appeal of the assessee was allowed with no costs imposed. Case-Laws Income Tax Tue, 13 Apr 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=204271