https://www.taxtmi.com/caselaws?id=372147 The Tribunal allowed the appeal of the assessee, quashing the revision order under Section 263, as the original assessment order was deemed neither erroneous nor prejudicial to the interest of the Revenue. The AO's decision to not apportion expenses related to exempt income while computing book profit under Section 115JB was supported by legal precedent, including the Special Bench decision in Vireet Investments (P.) Ltd. Consequently, the Tribunal held in favor of the assessee, citing the permissible view taken by the AO during the original assessment proceedings. en-us Thu, 13 Dec 2018 00:00:00 +0530 Fri, 11 Jan 2019 12:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=372147 The Tribunal allowed the appeal of the assessee, quashing the revision order under Section 263, as the original assessment order was deemed neither erroneous nor prejudicial to the interest of the Revenue. The AO's decision to not apportion expenses related to exempt income while computing book profit under Section 115JB was supported by legal precedent, including the Special Bench decision in Vireet Investments (P.) Ltd. Consequently, the Tribunal held in favor of the assessee, citing the permissible view taken by the AO during the original assessment proceedings. Case-Laws Income Tax Thu, 13 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=372147