https://www.taxtmi.com/caselaws?id=364795 The Tribunal quashed the order passed by the CIT under section 263 of the Income Tax Act, 1961, and allowed the appeal by the assessee. The Tribunal held that the CIT's assumption of jurisdiction under section 263 was not justified, as the assessment order was not erroneous and prejudicial to the interest of revenue. The Tribunal emphasized that the A.O. had duly verified and examined the claim of deduction under section 80IB(11C) before allowing it. en-us Wed, 01 Aug 2018 00:00:00 +0530 Sat, 04 Aug 2018 08:30:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=364795 The Tribunal quashed the order passed by the CIT under section 263 of the Income Tax Act, 1961, and allowed the appeal by the assessee. The Tribunal held that the CIT's assumption of jurisdiction under section 263 was not justified, as the assessment order was not erroneous and prejudicial to the interest of revenue. The Tribunal emphasized that the A.O. had duly verified and examined the claim of deduction under section 80IB(11C) before allowing it. Case-Laws Income Tax Wed, 01 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=364795