https://www.taxtmi.com/caselaws?id=406348 The court allowed the appeal, finding that the revisionary proceedings initiated by the Principal Commissioner of Income Tax were invalid. It held that the assessment order was not erroneous or prejudicial to the Revenue's interest, as the Assessing Officer had properly considered the details provided by the assessee. Additionally, the court ruled that separate books of accounts for Section 10A units were not mandatory and that the deduction should not be based on the overall average profit margin. The Tribunal's decision to remand the case back to the Assessing Officer was deemed unjustified. en-us Tue, 30 Mar 2021 00:00:00 +0530 Fri, 29 Apr 2022 13:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406348 The court allowed the appeal, finding that the revisionary proceedings initiated by the Principal Commissioner of Income Tax were invalid. It held that the assessment order was not erroneous or prejudicial to the Revenue's interest, as the Assessing Officer had properly considered the details provided by the assessee. Additionally, the court ruled that separate books of accounts for Section 10A units were not mandatory and that the deduction should not be based on the overall average profit margin. The Tribunal's decision to remand the case back to the Assessing Officer was deemed unjustified. Case-Laws Income Tax Tue, 30 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406348