https://www.taxtmi.com/caselaws?id=375802 The Tribunal set aside the Principal Commissioner of Income-tax's order invoking section 263, restoring the assessment order dated 05.12.2014. It found the Assessing Officer had adequately examined the deduction claimed under section 80IA and conducted proper inquiries, concluding the assessment order was not erroneous or prejudicial to Revenue. The Tribunal emphasized that section 263 powers require both error and prejudice, which were absent in this case, and allowed the assessee's appeal. en-us Mon, 18 Feb 2019 00:00:00 +0530 Mon, 25 Feb 2019 19:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375802 The Tribunal set aside the Principal Commissioner of Income-tax's order invoking section 263, restoring the assessment order dated 05.12.2014. It found the Assessing Officer had adequately examined the deduction claimed under section 80IA and conducted proper inquiries, concluding the assessment order was not erroneous or prejudicial to Revenue. The Tribunal emphasized that section 263 powers require both error and prejudice, which were absent in this case, and allowed the assessee's appeal. Case-Laws Income Tax Mon, 18 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375802