https://www.taxtmi.com/caselaws?id=176343 The Tribunal quashed the CIT's order under section 263, determining that the AO's acceptance of the assessee's claim for deduction under section 80HHC was not erroneous or prejudicial to the interests of the revenue. The AO's decision was legally correct at the time, based on the prevailing legal position and the details provided. The assessee's appeal was allowed, and the CIT's jurisdiction was deemed wrongly invoked. The Tribunal emphasized that the CIT cannot substitute his judgment for the AO's when the AO has made inquiries and applied his mind to the facts, and the CIT must have material evidence to support any contrary conclusion. en-us Fri, 21 Apr 2006 00:00:00 +0530 Tue, 19 Mar 2024 10:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=176343 The Tribunal quashed the CIT's order under section 263, determining that the AO's acceptance of the assessee's claim for deduction under section 80HHC was not erroneous or prejudicial to the interests of the revenue. The AO's decision was legally correct at the time, based on the prevailing legal position and the details provided. The assessee's appeal was allowed, and the CIT's jurisdiction was deemed wrongly invoked. The Tribunal emphasized that the CIT cannot substitute his judgment for the AO's when the AO has made inquiries and applied his mind to the facts, and the CIT must have material evidence to support any contrary conclusion. Case-Laws Income Tax Fri, 21 Apr 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=176343