https://www.taxtmi.com/caselaws?id=362447 The Tribunal set aside the decision of the Commissioner (Appeals) and directed the Assessing Officer to reconsider allowing the deduction claimed under section 54 of the Income Tax Act. The Tribunal criticized the selective approach of the Assessing Officer and emphasized the need for a proper assessment of the deduction eligibility without technical objections. It highlighted that a revised return can be filed within the specified time limit, even after the issuance of a notice under section 143(2) of the Act. The Tribunal ruled in favor of the assessee, stressing the importance of fair evaluation of deduction claims. en-us Wed, 20 Jun 2018 00:00:00 +0530 Tue, 26 Jun 2018 15:59:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362447 The Tribunal set aside the decision of the Commissioner (Appeals) and directed the Assessing Officer to reconsider allowing the deduction claimed under section 54 of the Income Tax Act. The Tribunal criticized the selective approach of the Assessing Officer and emphasized the need for a proper assessment of the deduction eligibility without technical objections. It highlighted that a revised return can be filed within the specified time limit, even after the issuance of a notice under section 143(2) of the Act. The Tribunal ruled in favor of the assessee, stressing the importance of fair evaluation of deduction claims. Case-Laws Income Tax Wed, 20 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362447