https://www.taxtmi.com/caselaws?id=215900 The Tribunal set aside the CIT's order and allowed the appeal filed by the assessee concerning the deduction u/s.10A for AY 2006-07. The Tribunal found that although the AO's decision could be prejudicial to revenue, it was not erroneous as a possible view was taken based on available information and documents. As both conditions for CIT's jurisdiction under section 263 were not met, the Tribunal ruled in favor of the assessee, emphasizing the importance of meeting both error and prejudice conditions for CIT to assume jurisdiction under section 263. en-us Mon, 18 Jun 2012 00:00:00 +0530 Wed, 22 Aug 2012 17:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215900 The Tribunal set aside the CIT's order and allowed the appeal filed by the assessee concerning the deduction u/s.10A for AY 2006-07. The Tribunal found that although the AO's decision could be prejudicial to revenue, it was not erroneous as a possible view was taken based on available information and documents. As both conditions for CIT's jurisdiction under section 263 were not met, the Tribunal ruled in favor of the assessee, emphasizing the importance of meeting both error and prejudice conditions for CIT to assume jurisdiction under section 263. Case-Laws Income Tax Mon, 18 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215900