https://www.taxtmi.com/caselaws?id=336703 The Tribunal allowed the assessee's appeal, setting aside the PCIT's order and restoring the AO's decision. The Tribunal emphasized that the advances were given out of commercial expediency and thus rightly claimed as deductions, invalidating the PCIT's revisionary action under Section 263. en-us Thu, 22 Dec 2016 00:00:00 +0530 Tue, 27 Dec 2016 19:03:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=336703 The Tribunal allowed the assessee's appeal, setting aside the PCIT's order and restoring the AO's decision. The Tribunal emphasized that the advances were given out of commercial expediency and thus rightly claimed as deductions, invalidating the PCIT's revisionary action under Section 263. Case-Laws Income Tax Thu, 22 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=336703