https://www.taxtmi.com/caselaws?id=371690 The Tribunal quashed the order under Section 263 of the Act passed by the Pr. CIT, noting that the conditions for invoking Section 263 were not met. The appeal of the assessee was allowed, and the Tribunal reiterated that the expenditure claimed for the shortage of materials was a normal business expense allowable under Section 37(1) and that no incriminating material was found during the search to justify the revision of the assessment. en-us Wed, 05 Dec 2018 00:00:00 +0530 Sat, 08 Dec 2018 06:38:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371690 The Tribunal quashed the order under Section 263 of the Act passed by the Pr. CIT, noting that the conditions for invoking Section 263 were not met. The appeal of the assessee was allowed, and the Tribunal reiterated that the expenditure claimed for the shortage of materials was a normal business expense allowable under Section 37(1) and that no incriminating material was found during the search to justify the revision of the assessment. Case-Laws Income Tax Wed, 05 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371690