https://www.taxtmi.com/caselaws?id=289133 The Tribunal held that the Commissioner exceeded jurisdiction in invoking Section 263 of the Income Tax Act, 1961, as the conditions for revision were not met. The Tribunal set aside the Commissioner's orders on various issues including exclusion of incentives in computing book profit, depreciation on foreign exchange fluctuation loss, and treatment of exemptions as capital receipts. The appeal of the assessee was allowed, and the original assessment order was restored. en-us Wed, 21 Aug 2019 00:00:00 +0530 Wed, 15 Jul 2020 22:52:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289133 The Tribunal held that the Commissioner exceeded jurisdiction in invoking Section 263 of the Income Tax Act, 1961, as the conditions for revision were not met. The Tribunal set aside the Commissioner's orders on various issues including exclusion of incentives in computing book profit, depreciation on foreign exchange fluctuation loss, and treatment of exemptions as capital receipts. The appeal of the assessee was allowed, and the original assessment order was restored. Case-Laws Income Tax Wed, 21 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289133