https://www.taxtmi.com/caselaws?id=352935 The Tribunal ruled in favor of the assessee, holding that the Principal Commissioner of Income Tax's invocation of jurisdiction under Section 263 was not justified as the Assessing Officer had diligently investigated and allowed deductions under Section 80IA. Additionally, the Tribunal found a violation of natural justice by the PCIT for withholding crucial information from the assessee. It upheld the deductions for the Railway Siding and Water Supply Systems, emphasizing the valid agreements with the government and compliance with Section 80IA(4) conditions. Consequently, the Tribunal set aside the PCIT's orders and allowed the assessee's appeals for the relevant assessment years. en-us Thu, 30 Nov 2017 00:00:00 +0530 Sun, 24 Dec 2017 17:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=352935 The Tribunal ruled in favor of the assessee, holding that the Principal Commissioner of Income Tax's invocation of jurisdiction under Section 263 was not justified as the Assessing Officer had diligently investigated and allowed deductions under Section 80IA. Additionally, the Tribunal found a violation of natural justice by the PCIT for withholding crucial information from the assessee. It upheld the deductions for the Railway Siding and Water Supply Systems, emphasizing the valid agreements with the government and compliance with Section 80IA(4) conditions. Consequently, the Tribunal set aside the PCIT's orders and allowed the assessee's appeals for the relevant assessment years. Case-Laws Income Tax Thu, 30 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=352935