https://www.taxtmi.com/caselaws?id=390150 The Tribunal found that the Principal Commissioner of Income Tax's exercise of revisional jurisdiction under Section 263 was without merit as the Assessing Officer's order was not erroneous or prejudicial to Revenue. The Tribunal ruled in favor of the assessee, setting aside the Principal Commissioner's order on various issues including alleged turnover mismatch, non-reference to Transfer Pricing Officer, disallowance under Section 14A, valuation of property sold, write-off of fixed assets, deduction under Section 80IC, and verification of large expenses. The appeal was allowed, and the Principal Commissioner's order was quashed. en-us Fri, 13 Dec 2019 00:00:00 +0530 Tue, 24 Dec 2019 11:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=390150 The Tribunal found that the Principal Commissioner of Income Tax's exercise of revisional jurisdiction under Section 263 was without merit as the Assessing Officer's order was not erroneous or prejudicial to Revenue. The Tribunal ruled in favor of the assessee, setting aside the Principal Commissioner's order on various issues including alleged turnover mismatch, non-reference to Transfer Pricing Officer, disallowance under Section 14A, valuation of property sold, write-off of fixed assets, deduction under Section 80IC, and verification of large expenses. The appeal was allowed, and the Principal Commissioner's order was quashed. Case-Laws Income Tax Fri, 13 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=390150