https://www.taxtmi.com/caselaws?id=284990 The Tribunal set aside the revision order passed under Section 263 of the Income Tax Act for the A.Y. 2012-13, in favor of the assessee. The Tribunal found that while the original assessment order may have been erroneous, it was not prejudicial to the interest of Revenue as the tax liability under Minimum Alternate Tax (MAT) remained higher than the normal computation even after disallowing the higher depreciation claims. Consequently, the Tribunal allowed the appeal of the assessee, emphasizing that the revision order was unnecessary given the limited impact on Revenue's interest. en-us Wed, 31 Jan 2018 00:00:00 +0530 Fri, 20 Dec 2019 12:18:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284990 The Tribunal set aside the revision order passed under Section 263 of the Income Tax Act for the A.Y. 2012-13, in favor of the assessee. The Tribunal found that while the original assessment order may have been erroneous, it was not prejudicial to the interest of Revenue as the tax liability under Minimum Alternate Tax (MAT) remained higher than the normal computation even after disallowing the higher depreciation claims. Consequently, the Tribunal allowed the appeal of the assessee, emphasizing that the revision order was unnecessary given the limited impact on Revenue's interest. Case-Laws Income Tax Wed, 31 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284990