https://www.taxtmi.com/caselaws?id=199044 The ITAT held that the order of the AO under section 144 was not erroneous or prejudicial to the Revenue's interest. The CIT erred in setting aside the AO's order under section 263 without proper hearing, and in applying section 40A(3). The ITAT emphasized that the CIT cannot substitute his opinion for that of the AO and that the matter had attained finality with the Tribunal's order. The appeal was allowed, and the order of the AO was upheld as not erroneous. en-us Thu, 10 Mar 2016 00:00:00 +0530 Mon, 19 Feb 2018 08:33:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=199044 The ITAT held that the order of the AO under section 144 was not erroneous or prejudicial to the Revenue's interest. The CIT erred in setting aside the AO's order under section 263 without proper hearing, and in applying section 40A(3). The ITAT emphasized that the CIT cannot substitute his opinion for that of the AO and that the matter had attained finality with the Tribunal's order. The appeal was allowed, and the order of the AO was upheld as not erroneous. Case-Laws Income Tax Thu, 10 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=199044