https://www.taxtmi.com/caselaws?id=210996 The Tribunal upheld the Commissioner of Income-tax's decision to invoke Section 263, as the assessment order allowing the deduction under Section 80IB without the mandatory audit report was deemed erroneous and prejudicial to the Revenue's interests. The Tribunal directed the Assessing Officer to conduct a fresh assessment, considering the audit report submitted during the proceedings. The appeal by the assessee was partially allowed, emphasizing the significance of procedural compliance for tax deduction claims. en-us Fri, 06 Jan 2012 00:00:00 +0530 Wed, 29 Feb 2012 09:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=210996 The Tribunal upheld the Commissioner of Income-tax's decision to invoke Section 263, as the assessment order allowing the deduction under Section 80IB without the mandatory audit report was deemed erroneous and prejudicial to the Revenue's interests. The Tribunal directed the Assessing Officer to conduct a fresh assessment, considering the audit report submitted during the proceedings. The appeal by the assessee was partially allowed, emphasizing the significance of procedural compliance for tax deduction claims. Case-Laws Income Tax Fri, 06 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=210996