https://www.taxtmi.com/caselaws?id=265995 The Tribunal upheld the original assessment order, ruling in favor of the appellant. It found that the Commissioner's order under section 263 was beyond jurisdiction as the assessing officer had thoroughly examined the interest expenditure and disallowance under section 14A in the initial assessment. The Tribunal emphasized the reasonableness of the AO's decision, supported by case law and factual evidence, and concluded that the AO's view was valid. As a result, the Tribunal allowed the appeal, determining that the AO's order was not erroneous or prejudicial to the revenue's interest, and nullified the Commissioner's order under section 263. en-us Wed, 09 Sep 2015 00:00:00 +0530 Sat, 17 Oct 2015 08:15:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=265995 The Tribunal upheld the original assessment order, ruling in favor of the appellant. It found that the Commissioner's order under section 263 was beyond jurisdiction as the assessing officer had thoroughly examined the interest expenditure and disallowance under section 14A in the initial assessment. The Tribunal emphasized the reasonableness of the AO's decision, supported by case law and factual evidence, and concluded that the AO's view was valid. As a result, the Tribunal allowed the appeal, determining that the AO's order was not erroneous or prejudicial to the revenue's interest, and nullified the Commissioner's order under section 263. Case-Laws Income Tax Wed, 09 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=265995