https://www.taxtmi.com/caselaws?id=199623 The Tribunal held that the Principal Commissioner of Income Tax erred in directing reassessment proceedings for a Limited Company's higher rate of depreciation on buses and for not disallowing proportionate interest on share investments under section 14A. The Tribunal found the Principal Commissioner's orders unsustainable in law, citing the Assessing Officer's well-reasoned decisions and statutory time limitations. As a result, the appeals were allowed, and the orders under section 263 were reversed. en-us Fri, 17 Jun 2016 00:00:00 +0530 Thu, 08 Mar 2018 06:59:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=199623 The Tribunal held that the Principal Commissioner of Income Tax erred in directing reassessment proceedings for a Limited Company's higher rate of depreciation on buses and for not disallowing proportionate interest on share investments under section 14A. The Tribunal found the Principal Commissioner's orders unsustainable in law, citing the Assessing Officer's well-reasoned decisions and statutory time limitations. As a result, the appeals were allowed, and the orders under section 263 were reversed. Case-Laws Income Tax Fri, 17 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=199623