https://www.taxtmi.com/caselaws?id=335801 The Tribunal upheld the CIT's order under section 263, affirming that the original assessment was erroneous and prejudicial to the interest of the revenue. The appeal filed by the assessee was dismissed, and the Assessing Officer was directed to re-examine the issues as per the CIT's instructions. The decision emphasized adherence to the jurisdictional High Court's interpretation of section 10B and the necessity for thorough verification of deductions and reconciliations during assessments. en-us Wed, 09 Nov 2016 00:00:00 +0530 Fri, 09 Dec 2016 13:22:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=335801 The Tribunal upheld the CIT's order under section 263, affirming that the original assessment was erroneous and prejudicial to the interest of the revenue. The appeal filed by the assessee was dismissed, and the Assessing Officer was directed to re-examine the issues as per the CIT's instructions. The decision emphasized adherence to the jurisdictional High Court's interpretation of section 10B and the necessity for thorough verification of deductions and reconciliations during assessments. Case-Laws Income Tax Wed, 09 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=335801