https://www.taxtmi.com/caselaws?id=407123 The Tribunal set aside the Principal Commissioner of Income Tax's revision order, ruling that the original assessment was not erroneous or prejudicial to the Revenue's interest. It found that the interest income was correctly disclosed and distributed among beneficiaries as per agreements, emphasizing the validity of the assessment under section 143(3) of the Act. The Tribunal highlighted the importance of accurate assessments based on factual and legal considerations, ultimately allowing the appeal of the assessee. en-us Fri, 05 Mar 2021 00:00:00 +0530 Sat, 01 May 2021 09:29:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407123 The Tribunal set aside the Principal Commissioner of Income Tax's revision order, ruling that the original assessment was not erroneous or prejudicial to the Revenue's interest. It found that the interest income was correctly disclosed and distributed among beneficiaries as per agreements, emphasizing the validity of the assessment under section 143(3) of the Act. The Tribunal highlighted the importance of accurate assessments based on factual and legal considerations, ultimately allowing the appeal of the assessee. Case-Laws Income Tax Fri, 05 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407123