https://www.taxtmi.com/caselaws?id=388506 The Appellate Tribunal upheld the revisional jurisdiction exercised by the Principal Commissioner of Income Tax under section 263 for AY 2015-16 and AY 2016-17. The Tribunal found the assessment orders erroneous and prejudicial to revenue due to non-compliance with relevant provisions, leading to the dismissal of the appeals. The Tribunal emphasized the importance of accurate computation of book profits under section 115JB and fulfillment of conditions for claimed deductions under section 36(1)(viii) to avoid revision under section 263. en-us Wed, 13 Nov 2019 00:00:00 +0530 Sat, 16 Nov 2019 16:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=388506 The Appellate Tribunal upheld the revisional jurisdiction exercised by the Principal Commissioner of Income Tax under section 263 for AY 2015-16 and AY 2016-17. The Tribunal found the assessment orders erroneous and prejudicial to revenue due to non-compliance with relevant provisions, leading to the dismissal of the appeals. The Tribunal emphasized the importance of accurate computation of book profits under section 115JB and fulfillment of conditions for claimed deductions under section 36(1)(viii) to avoid revision under section 263. Case-Laws Income Tax Wed, 13 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=388506