https://www.taxtmi.com/caselaws?id=349216 The Tribunal upheld the Commissioner of Income Tax's order under Section 263, finding the assessment order erroneous and prejudicial to revenue due to lack of proper verification by the Assessing Officer. Additionally, the Tribunal ruled the assessee ineligible for deduction under Section 35(1)(iv) as the R&D capital expenditure was for the benefit of the parent company, not the assessee's own business. The appeal was dismissed, affirming the CIT's decision. en-us Wed, 21 Jun 2017 00:00:00 +0530 Sat, 07 Oct 2017 16:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=349216 The Tribunal upheld the Commissioner of Income Tax's order under Section 263, finding the assessment order erroneous and prejudicial to revenue due to lack of proper verification by the Assessing Officer. Additionally, the Tribunal ruled the assessee ineligible for deduction under Section 35(1)(iv) as the R&D capital expenditure was for the benefit of the parent company, not the assessee's own business. The appeal was dismissed, affirming the CIT's decision. Case-Laws Income Tax Wed, 21 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=349216