https://www.taxtmi.com/caselaws?id=395249 The Tribunal partly allowed the appeal, setting aside the Commissioner's actions on the first issue regarding jurisdiction under Section 263 of the Income Tax Act, as the incorrect accounting method did not result in under-reporting of income. However, the Tribunal upheld the decision on the second issue of under-assessment due to lower reporting of sale transactions, agreeing that purchase costs should be deducted. Additionally, the Tribunal upheld the Commissioner's decision on the third issue, directing a re-determination of consultancy charges and development expenses under Section 40A(2)(b) of the Act. en-us Wed, 22 Jan 2020 00:00:00 +0530 Wed, 13 May 2020 11:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395249 The Tribunal partly allowed the appeal, setting aside the Commissioner's actions on the first issue regarding jurisdiction under Section 263 of the Income Tax Act, as the incorrect accounting method did not result in under-reporting of income. However, the Tribunal upheld the decision on the second issue of under-assessment due to lower reporting of sale transactions, agreeing that purchase costs should be deducted. Additionally, the Tribunal upheld the Commissioner's decision on the third issue, directing a re-determination of consultancy charges and development expenses under Section 40A(2)(b) of the Act. Case-Laws Income Tax Wed, 22 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395249