https://www.taxtmi.com/caselaws?id=405486 The Tribunal upheld the validity of orders passed by the Principal Commissioner of Income Tax (PCIT) under section 263 for assessment years 2012-13 and 2014-15. In both years, after the PCIT set aside the assessment orders for verification of expenditure genuineness, the Commissioner (Appeals) directed to allow depreciation. The fresh assessment orders allowed depreciation after verifying the expenditure. The Tribunal found the reassessment not erroneous and dismissed the appeals as infructuous, applying similar reasoning for both years. en-us Fri, 05 Mar 2021 00:00:00 +0530 Mon, 22 Mar 2021 09:16:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405486 The Tribunal upheld the validity of orders passed by the Principal Commissioner of Income Tax (PCIT) under section 263 for assessment years 2012-13 and 2014-15. In both years, after the PCIT set aside the assessment orders for verification of expenditure genuineness, the Commissioner (Appeals) directed to allow depreciation. The fresh assessment orders allowed depreciation after verifying the expenditure. The Tribunal found the reassessment not erroneous and dismissed the appeals as infructuous, applying similar reasoning for both years. Case-Laws Income Tax Fri, 05 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405486