https://www.taxtmi.com/caselaws?id=285889 The Tribunal allowed the appeal filed by the assessee, setting aside the order passed by the Principal Commissioner of Income Tax under Section 263. The original assessment order passed by the Assessing Officer was restored, rejecting the Pr.CIT's jurisdiction assumption under Section 263. Additionally, the Tribunal upheld the deduction claimed under Section 80P(2)(d) for interest income from co-operative banks, contrary to the Pr.CIT's disallowance. The Tribunal also determined that the tax liability calculation under Alternate Minimum Tax provisions was not prejudicial, affirming the Assessing Officer's approach over the Pr.CIT's. en-us Wed, 08 Jan 2020 00:00:00 +0530 Sat, 01 Feb 2020 11:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=285889 The Tribunal allowed the appeal filed by the assessee, setting aside the order passed by the Principal Commissioner of Income Tax under Section 263. The original assessment order passed by the Assessing Officer was restored, rejecting the Pr.CIT's jurisdiction assumption under Section 263. Additionally, the Tribunal upheld the deduction claimed under Section 80P(2)(d) for interest income from co-operative banks, contrary to the Pr.CIT's disallowance. The Tribunal also determined that the tax liability calculation under Alternate Minimum Tax provisions was not prejudicial, affirming the Assessing Officer's approach over the Pr.CIT's. Case-Laws Income Tax Wed, 08 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=285889