https://www.taxtmi.com/caselaws?id=370979 The Tribunal allowed the appeal of the assessee in ITA No. 3182/DEL/2016, setting aside the Principal Commissioner's order and restoring the Assessing Officer's assessment order dated 14.03.2014 under Section 143(3) of the Income-tax Act. The Tribunal held that the AO's order was not erroneous or prejudicial to the Revenue, as the AO had conducted thorough inquiries and the assessee had provided substantial documentary evidence supporting its deduction claim under Section 80IA. The Tribunal emphasized that the powers under Section 263 could only be exercised in cases where the assessment order is both erroneous and prejudicial to the Revenue, which was not found in this instance. en-us Tue, 23 Oct 2018 00:00:00 +0530 Tue, 27 Nov 2018 06:39:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=370979 The Tribunal allowed the appeal of the assessee in ITA No. 3182/DEL/2016, setting aside the Principal Commissioner's order and restoring the Assessing Officer's assessment order dated 14.03.2014 under Section 143(3) of the Income-tax Act. The Tribunal held that the AO's order was not erroneous or prejudicial to the Revenue, as the AO had conducted thorough inquiries and the assessee had provided substantial documentary evidence supporting its deduction claim under Section 80IA. The Tribunal emphasized that the powers under Section 263 could only be exercised in cases where the assessment order is both erroneous and prejudicial to the Revenue, which was not found in this instance. Case-Laws Income Tax Tue, 23 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=370979