https://www.taxtmi.com/caselaws?id=284889 The Tribunal upheld the Commissioner of Income Tax's jurisdiction under Section 263 of the Income Tax Act, determining that the Assessing Officer's order was erroneous and prejudicial to revenue. The Tribunal directed the AO to rework the assessment, including proportionate interest disallowance based on gross interest paid, disallowance of Electricity and Power Generation Tax under Section 43B for non-timely payment, verification of deductions under Section 35(2AB), and assessment of relief obtained under the Corporate Debt Restructuring Mechanism. The Tribunal dismissed the assessee's appeals for the relevant assessment years, affirming the CIT's directions. en-us Thu, 09 Feb 2017 00:00:00 +0530 Mon, 16 Dec 2019 09:52:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284889 The Tribunal upheld the Commissioner of Income Tax's jurisdiction under Section 263 of the Income Tax Act, determining that the Assessing Officer's order was erroneous and prejudicial to revenue. The Tribunal directed the AO to rework the assessment, including proportionate interest disallowance based on gross interest paid, disallowance of Electricity and Power Generation Tax under Section 43B for non-timely payment, verification of deductions under Section 35(2AB), and assessment of relief obtained under the Corporate Debt Restructuring Mechanism. The Tribunal dismissed the assessee's appeals for the relevant assessment years, affirming the CIT's directions. Case-Laws Income Tax Thu, 09 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284889