https://www.taxtmi.com/caselaws?id=340385 The Tribunal overturned the Principal Commissioner of Income Tax's order issued under Section 263, ruling in favor of the assessee. The Tribunal found that the Assessing Officer had adequately investigated the matter, and the remuneration disallowed by the partnership firm was eligible for exemption under Section 28(v). Citing a previous decision in the assessee's favor, the Tribunal concluded that the PCIT's revision jurisdiction was unwarranted. Consequently, the assessee's appeal was successful, with the judgment delivered on March 16, 2017. en-us Thu, 16 Mar 2017 00:00:00 +0530 Sat, 18 Mar 2017 10:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=340385 The Tribunal overturned the Principal Commissioner of Income Tax's order issued under Section 263, ruling in favor of the assessee. The Tribunal found that the Assessing Officer had adequately investigated the matter, and the remuneration disallowed by the partnership firm was eligible for exemption under Section 28(v). Citing a previous decision in the assessee's favor, the Tribunal concluded that the PCIT's revision jurisdiction was unwarranted. Consequently, the assessee's appeal was successful, with the judgment delivered on March 16, 2017. Case-Laws Income Tax Thu, 16 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=340385