https://www.taxtmi.com/caselaws?id=388807 The Appellate Tribunal allowed the appeal, finding the order passed under section 263 of the Income Tax Act erroneous and not prejudicial to revenue. The Tribunal held that the revision of the assessment order by the Principal CIT lacked merit as the issues concerning depreciation and EPF deposit were compliant with legal requirements and did not impact revenue significantly. The Tribunal emphasized that the revisionary action was unwarranted based on settled legal principles, ultimately quashing the impugned order. en-us Thu, 21 Nov 2019 00:00:00 +0530 Sat, 23 Nov 2019 09:55:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=388807 The Appellate Tribunal allowed the appeal, finding the order passed under section 263 of the Income Tax Act erroneous and not prejudicial to revenue. The Tribunal held that the revision of the assessment order by the Principal CIT lacked merit as the issues concerning depreciation and EPF deposit were compliant with legal requirements and did not impact revenue significantly. The Tribunal emphasized that the revisionary action was unwarranted based on settled legal principles, ultimately quashing the impugned order. Case-Laws Income Tax Thu, 21 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=388807