https://www.taxtmi.com/caselaws?id=399482 The Appellate Tribunal upheld the revision order under section 263 of the Act, finding the assessment order erroneous and prejudicial to revenue due to the inconsistent treatment of leased assets for book and income tax purposes. The jurisdictional dispute raised by the assessee did not alter the core issue, leading to the dismissal of the appeal. The need for proper evaluation and alignment between book and tax treatment of assets was emphasized, highlighting the importance of accurate accounting practices for tax compliance. en-us Fri, 09 Oct 2020 00:00:00 +0530 Mon, 12 Oct 2020 12:02:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399482 The Appellate Tribunal upheld the revision order under section 263 of the Act, finding the assessment order erroneous and prejudicial to revenue due to the inconsistent treatment of leased assets for book and income tax purposes. The jurisdictional dispute raised by the assessee did not alter the core issue, leading to the dismissal of the appeal. The need for proper evaluation and alignment between book and tax treatment of assets was emphasized, highlighting the importance of accurate accounting practices for tax compliance. Case-Laws Income Tax Fri, 09 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399482