https://www.taxtmi.com/caselaws?id=352895 The Tribunal upheld the Commissioner of Income-Tax (Appeals) decision, emphasizing that the Assessing Officer correctly followed the Commissioner of Income-Tax's direction, making the grounds related to the merits of the revision order irrelevant to the appeal. The Tribunal dismissed the appeal on the correct application of law in allowing depreciation from estimated income, as the assessee did not appeal the Commissioner of Income-Tax's order under section 263, rendering it final and binding. The Tribunal remitted the matter back to the Assessing Officer for further examination on the adjudication of interest received on contract works to determine if it qualifies as business income. en-us Wed, 20 Dec 2017 00:00:00 +0530 Sat, 23 Dec 2017 09:07:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=352895 The Tribunal upheld the Commissioner of Income-Tax (Appeals) decision, emphasizing that the Assessing Officer correctly followed the Commissioner of Income-Tax's direction, making the grounds related to the merits of the revision order irrelevant to the appeal. The Tribunal dismissed the appeal on the correct application of law in allowing depreciation from estimated income, as the assessee did not appeal the Commissioner of Income-Tax's order under section 263, rendering it final and binding. The Tribunal remitted the matter back to the Assessing Officer for further examination on the adjudication of interest received on contract works to determine if it qualifies as business income. Case-Laws Income Tax Wed, 20 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=352895