https://www.taxtmi.com/caselaws?id=386761 The Tribunal allowed the appeal of the assessee, holding that the order passed by the AO was not erroneous and the invocation of Section 263 by the PCIT was not justified. The Tribunal emphasized that the AO had adopted a possible view, and the twin conditions for invoking Section 263 were not satisfied. As a result, the assessment order was not erroneous or prejudicial to the interest of revenue, and the appeal was allowed in favor of the assessee. en-us Wed, 18 Sep 2019 00:00:00 +0530 Mon, 07 Oct 2019 22:03:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=386761 The Tribunal allowed the appeal of the assessee, holding that the order passed by the AO was not erroneous and the invocation of Section 263 by the PCIT was not justified. The Tribunal emphasized that the AO had adopted a possible view, and the twin conditions for invoking Section 263 were not satisfied. As a result, the assessment order was not erroneous or prejudicial to the interest of revenue, and the appeal was allowed in favor of the assessee. Case-Laws Income Tax Wed, 18 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=386761