https://www.taxtmi.com/caselaws?id=288283 The Tribunal ruled in favor of the appellant, a Director of a company, in an appeal regarding the deduction claimed under section 80IB(10) of the Income Tax Act for the assessment year 2005-06. The Tribunal held that the Assessing Officer's decision to allow the deduction was valid, considering the revised approval plan and certification by the Pune Municipal Corporation. It concluded that the Commissioner's intervention under section 263 was unwarranted, as the AO's decision was based on a possible view and not prejudicial to revenue interests. The Tribunal quashed the proceedings under section 263 and allowed the appellant's appeal, upholding the validity of the deduction. en-us Wed, 18 Mar 2015 00:00:00 +0530 Sat, 30 May 2020 11:11:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=288283 The Tribunal ruled in favor of the appellant, a Director of a company, in an appeal regarding the deduction claimed under section 80IB(10) of the Income Tax Act for the assessment year 2005-06. The Tribunal held that the Assessing Officer's decision to allow the deduction was valid, considering the revised approval plan and certification by the Pune Municipal Corporation. It concluded that the Commissioner's intervention under section 263 was unwarranted, as the AO's decision was based on a possible view and not prejudicial to revenue interests. The Tribunal quashed the proceedings under section 263 and allowed the appellant's appeal, upholding the validity of the deduction. Case-Laws Income Tax Wed, 18 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=288283