https://www.taxtmi.com/caselaws?id=240160 The tribunal allowed the assessee's appeal, holding that the CIT was not justified in invoking section 263 and directing the AO to withdraw the deduction allowed u/s 80IB. The tribunal concluded that the AO's order was neither erroneous nor prejudicial to the interests of the Revenue. Additionally, the tribunal found that while the provisions of section 80AC are mandatory, the AO had properly examined the details and allowed the deduction within the prescribed time frame. en-us Fri, 12 Apr 2013 00:00:00 +0530 Thu, 23 Apr 2015 12:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=240160 The tribunal allowed the assessee's appeal, holding that the CIT was not justified in invoking section 263 and directing the AO to withdraw the deduction allowed u/s 80IB. The tribunal concluded that the AO's order was neither erroneous nor prejudicial to the interests of the Revenue. Additionally, the tribunal found that while the provisions of section 80AC are mandatory, the AO had properly examined the details and allowed the deduction within the prescribed time frame. Case-Laws Income Tax Fri, 12 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=240160