https://www.taxtmi.com/caselaws?id=386984 The Tribunal set aside the Principal Commissioner of Income Tax's order under section 263, allowing the assessee's appeals for AY 1997-98 and AY 1998-99. The Tribunal held that the AO's decision was not erroneous or prejudicial to the Revenue's interests as two views were possible on the matter. This decision was based on Supreme Court precedents and the consistent treatment of similar claims in previous years. en-us Mon, 30 Sep 2019 00:00:00 +0530 Mon, 14 Oct 2019 10:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=386984 The Tribunal set aside the Principal Commissioner of Income Tax's order under section 263, allowing the assessee's appeals for AY 1997-98 and AY 1998-99. The Tribunal held that the AO's decision was not erroneous or prejudicial to the Revenue's interests as two views were possible on the matter. This decision was based on Supreme Court precedents and the consistent treatment of similar claims in previous years. Case-Laws Income Tax Mon, 30 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=386984