https://www.taxtmi.com/caselaws?id=218331 The tribunal quashed the DIT(E)'s order under section 263, determining that the AO's computation of capital gains, though erroneous, was not prejudicial to the revenue. The tribunal held that the AO's approach was a possible view supported by judicial precedents. The appeal by the charitable trust was allowed, emphasizing that the trust had applied surplus income for charitable purposes, offsetting the capital gains not utilized under section 11(1A) of the IT Act, 1961. en-us Fri, 28 Sep 2012 00:00:00 +0530 Sat, 27 Jun 2026 12:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=218331 The tribunal quashed the DIT(E)'s order under section 263, determining that the AO's computation of capital gains, though erroneous, was not prejudicial to the revenue. The tribunal held that the AO's approach was a possible view supported by judicial precedents. The appeal by the charitable trust was allowed, emphasizing that the trust had applied surplus income for charitable purposes, offsetting the capital gains not utilized under section 11(1A) of the IT Act, 1961. Case-Laws Income Tax Fri, 28 Sep 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=218331