https://www.taxtmi.com/caselaws?id=401871 The Tribunal quashed the Commissioner's order under Section 263, finding it erroneous to invoke the powers under the Act. The Assessing Officer's allowance of claim under Section 35(2AB) was deemed prejudicial to revenue due to incorrect apportionment, leading to excess deduction under Section 10B. The Tribunal set aside the CIT's order, ruling the requested inquiries unnecessary, and allowed the appeal of the assessee. The High Court decided against the revenue and in favor of the assessee, dismissing the appeal for lack of merit. en-us Mon, 30 Nov 2020 00:00:00 +0530 Fri, 18 Dec 2020 16:35:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401871 The Tribunal quashed the Commissioner's order under Section 263, finding it erroneous to invoke the powers under the Act. The Assessing Officer's allowance of claim under Section 35(2AB) was deemed prejudicial to revenue due to incorrect apportionment, leading to excess deduction under Section 10B. The Tribunal set aside the CIT's order, ruling the requested inquiries unnecessary, and allowed the appeal of the assessee. The High Court decided against the revenue and in favor of the assessee, dismissing the appeal for lack of merit. Case-Laws Income Tax Mon, 30 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401871