https://www.taxtmi.com/caselaws?id=238375 The ITAT partly allowed the appeal challenging the revision order under sec. 263 of the Act for the assessment year 2008-09. It found the AO's failure to consider sec. 80P(4) made the assessment order erroneous, justifying the revision. The ITAT directed an independent review by the AO on the applicability of sec. 80P(4) without influence from the Ld. CIT's observations. The judgment stressed the need for reasoned decisions in tax matters and upheld fair assessment procedures. en-us Fri, 04 Oct 2013 00:00:00 +0530 Mon, 21 Oct 2013 10:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=238375 The ITAT partly allowed the appeal challenging the revision order under sec. 263 of the Act for the assessment year 2008-09. It found the AO's failure to consider sec. 80P(4) made the assessment order erroneous, justifying the revision. The ITAT directed an independent review by the AO on the applicability of sec. 80P(4) without influence from the Ld. CIT's observations. The judgment stressed the need for reasoned decisions in tax matters and upheld fair assessment procedures. Case-Laws Income Tax Fri, 04 Oct 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=238375