https://www.taxtmi.com/caselaws?id=390022 The Tribunal quashed the order passed by the Principal Commissioner of Income Tax under section 263 of the Income Tax Act, ruling in favor of the Assessee. It was held that while the Assessing Officer's order may have been erroneous, it was not prejudicial to the interest of the Revenue. The Tribunal relied on a previous decision by the Division Bench, determining that the tax liability under Minimum Alternate Tax (MAT) was higher than under normal provisions, thus not adversely affecting Revenue's interest. Consequently, the Assessee's appeal was allowed, and the Principal Commissioner's order was set aside. en-us Wed, 11 Dec 2019 00:00:00 +0530 Sun, 22 Dec 2019 07:37:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=390022 The Tribunal quashed the order passed by the Principal Commissioner of Income Tax under section 263 of the Income Tax Act, ruling in favor of the Assessee. It was held that while the Assessing Officer's order may have been erroneous, it was not prejudicial to the interest of the Revenue. The Tribunal relied on a previous decision by the Division Bench, determining that the tax liability under Minimum Alternate Tax (MAT) was higher than under normal provisions, thus not adversely affecting Revenue's interest. Consequently, the Assessee's appeal was allowed, and the Principal Commissioner's order was set aside. Case-Laws Income Tax Wed, 11 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=390022