https://www.taxtmi.com/caselaws?id=249606 The ITAT allowed the appeal, setting aside the CIT's order invoking jurisdiction under section 263 of the Income Tax Act and directing a re-computation of income. The ITAT found that the CIT had no basis to intervene as the issue of interest accrual was already under appeal. The Assessing Officer was given the opportunity to re-examine the principal and interest as per the previous ITAT order. en-us Wed, 09 Jul 2014 00:00:00 +0530 Fri, 18 Jul 2014 08:31:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=249606 The ITAT allowed the appeal, setting aside the CIT's order invoking jurisdiction under section 263 of the Income Tax Act and directing a re-computation of income. The ITAT found that the CIT had no basis to intervene as the issue of interest accrual was already under appeal. The Assessing Officer was given the opportunity to re-examine the principal and interest as per the previous ITAT order. Case-Laws Income Tax Wed, 09 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=249606