https://www.taxtmi.com/caselaws?id=181363 The Tribunal ruled in favor of the assessee, holding that the Assessing Officer had appropriately considered the eligibility for deductions under sections 80IB and 80IC. It was determined that the Commissioner of Income Tax could not substitute his opinion under section 263, and the deductions were applicable to the undertaking, not the assessee. The Tribunal referred to the decision in Malabar Industrial Co. v. CIT to support its findings and ultimately quashed the order under section 263, allowing the appeal. en-us Thu, 22 Sep 2011 00:00:00 +0530 Thu, 14 Apr 2016 17:51:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181363 The Tribunal ruled in favor of the assessee, holding that the Assessing Officer had appropriately considered the eligibility for deductions under sections 80IB and 80IC. It was determined that the Commissioner of Income Tax could not substitute his opinion under section 263, and the deductions were applicable to the undertaking, not the assessee. The Tribunal referred to the decision in Malabar Industrial Co. v. CIT to support its findings and ultimately quashed the order under section 263, allowing the appeal. Case-Laws Income Tax Thu, 22 Sep 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181363