https://www.taxtmi.com/caselaws?id=177041 The Tribunal set aside the revision order of the Commissioner of Income-tax, allowing the appeal of the assessee. The Tribunal found that the AO had already examined the issues and taken a possible view on the legitimacy of invoking Section 263, applicability of Sections 60 to 63 to interest income from interest-free loans, and the allowability of mark-to-market losses on foreign exchange derivatives. The Tribunal concluded that the assessment order was not prejudicial to the interests of revenue, as the AO had conducted a proper enquiry and taken a possible view. en-us Wed, 12 Feb 2014 00:00:00 +0530 Sat, 02 Jan 2016 10:13:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177041 The Tribunal set aside the revision order of the Commissioner of Income-tax, allowing the appeal of the assessee. The Tribunal found that the AO had already examined the issues and taken a possible view on the legitimacy of invoking Section 263, applicability of Sections 60 to 63 to interest income from interest-free loans, and the allowability of mark-to-market losses on foreign exchange derivatives. The Tribunal concluded that the assessment order was not prejudicial to the interests of revenue, as the AO had conducted a proper enquiry and taken a possible view. Case-Laws Income Tax Wed, 12 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177041