https://www.taxtmi.com/highlights?id=59184 Revision u/s 263 - Addition u/s 14A - The Tribunal found fault with the CIT by observing that when such was the stand taken by the assessee, it is necessary for the CIT to at least record a prima facie finding that certain amount claimed by the assessee as deduction in its computation of income de facto related to earning of tax-free income. Thus, it was held that in the absence of any such prima facie finding, the reassessment was erroneous. - Order of ITAT sustained - HC en-us Fri, 13 Aug 2021 08:52:09 +0530 Fri, 13 Aug 2021 08:52:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=59184 Revision u/s 263 - Addition u/s 14A - The Tribunal found fault with the CIT by observing that when such was the stand taken by the assessee, it is necessary for the CIT to at least record a prima facie finding that certain amount claimed by the assessee as deduction in its computation of income de facto related to earning of tax-free income. Thus, it was held that in the absence of any such prima facie finding, the reassessment was erroneous. - Order of ITAT sustained - HC Highlights Income Tax Fri, 13 Aug 2021 08:52:09 +0530 https://www.taxtmi.com/highlights?id=59184