https://www.taxtmi.com/caselaws?id=407566 The tribunal quashed the Principal Commissioner of Income Tax's order under section 263, citing it as time-barred and lacking jurisdiction. The original assessment order was deemed not erroneous or prejudicial, as the deduction issue under section 80IB(10) had been previously examined and allowed by the Assessing Officer. The tribunal upheld the principle of consistency, highlighting that the deduction had been approved in the prior year for the same project. Consequently, the assessee's appeal was successful. en-us Wed, 12 May 2021 00:00:00 +0530 Fri, 14 May 2021 08:33:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407566 The tribunal quashed the Principal Commissioner of Income Tax's order under section 263, citing it as time-barred and lacking jurisdiction. The original assessment order was deemed not erroneous or prejudicial, as the deduction issue under section 80IB(10) had been previously examined and allowed by the Assessing Officer. The tribunal upheld the principle of consistency, highlighting that the deduction had been approved in the prior year for the same project. Consequently, the assessee's appeal was successful. Case-Laws Income Tax Wed, 12 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407566