https://www.taxtmi.com/caselaws?id=178441 The Tribunal allowed the appeal and cancelled the CIT's order under Section 263, holding that the AO's decision was not erroneous or prejudicial to Revenue. The provision for development expenses was deemed justified and allowable based on established accounting practices and judicial precedents. The Tribunal found the CIT's action unwarranted, citing the adequacy of the AO's inquiry and the correctness of the assessee's accounting method. en-us Tue, 22 Nov 2011 00:00:00 +0530 Thu, 07 Sep 2017 18:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178441 The Tribunal allowed the appeal and cancelled the CIT's order under Section 263, holding that the AO's decision was not erroneous or prejudicial to Revenue. The provision for development expenses was deemed justified and allowable based on established accounting practices and judicial precedents. The Tribunal found the CIT's action unwarranted, citing the adequacy of the AO's inquiry and the correctness of the assessee's accounting method. Case-Laws Income Tax Tue, 22 Nov 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178441