https://www.taxtmi.com/caselaws?id=347074 The Tribunal dismissed the appeal, holding that the CIT's exercise of jurisdiction under section 263 of the Income Tax Act was without merit. The Tribunal found that the AO had conducted proper inquiry regarding the additional depreciation claim, which was allowed in accordance with the law. Emphasizing compliance with legal provisions and lack of prejudice to revenue, the Tribunal set aside the CIT's order, concluding that it lacked jurisdiction in this matter. en-us Mon, 21 Aug 2017 00:00:00 +0530 Mon, 28 Aug 2017 10:01:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=347074 The Tribunal dismissed the appeal, holding that the CIT's exercise of jurisdiction under section 263 of the Income Tax Act was without merit. The Tribunal found that the AO had conducted proper inquiry regarding the additional depreciation claim, which was allowed in accordance with the law. Emphasizing compliance with legal provisions and lack of prejudice to revenue, the Tribunal set aside the CIT's order, concluding that it lacked jurisdiction in this matter. Case-Laws Income Tax Mon, 21 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=347074