https://www.taxtmi.com/caselaws?id=370299 The Tribunal quashed the order passed by the Principal Commissioner of Income Tax under section 263, finding that the Assessing Officer had adequately examined the deduction claimed under section 80IC without errors prejudicial to Revenue. The Tribunal upheld the deduction for the Rudrapur plant, dismissing suspicions of expense shifting. Alleged discrepancies in expense allocation between units were deemed unfounded, with the Tribunal affirming the AO's thorough examination. The appeal by the assessee was allowed, with the Tribunal ruling in favor of the assessee on all issues raised. en-us Tue, 06 Nov 2018 00:00:00 +0530 Thu, 15 Nov 2018 07:26:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=370299 The Tribunal quashed the order passed by the Principal Commissioner of Income Tax under section 263, finding that the Assessing Officer had adequately examined the deduction claimed under section 80IC without errors prejudicial to Revenue. The Tribunal upheld the deduction for the Rudrapur plant, dismissing suspicions of expense shifting. Alleged discrepancies in expense allocation between units were deemed unfounded, with the Tribunal affirming the AO's thorough examination. The appeal by the assessee was allowed, with the Tribunal ruling in favor of the assessee on all issues raised. Case-Laws Income Tax Tue, 06 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=370299