https://www.taxtmi.com/caselaws?id=412004 The Tribunal allowed the appeal, setting aside the Principal Commissioner of Income Tax's order under Section 263 and upholding the Assessing Officer's original assessment. The Tribunal found the AO's inquiries into the exemption of Carbon Emission Reduction receipts and the expenditure for the Resurgent Rajasthan Summit to be thorough and adequate, disagreeing with the PCIT's view that the assessment order was erroneous. The Tribunal emphasized that the AO had properly considered all relevant factors, supporting documents, and judicial precedents, leading to the decision in favor of the assessee. en-us Tue, 31 Aug 2021 00:00:00 +0530 Wed, 08 Sep 2021 08:34:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412004 The Tribunal allowed the appeal, setting aside the Principal Commissioner of Income Tax's order under Section 263 and upholding the Assessing Officer's original assessment. The Tribunal found the AO's inquiries into the exemption of Carbon Emission Reduction receipts and the expenditure for the Resurgent Rajasthan Summit to be thorough and adequate, disagreeing with the PCIT's view that the assessment order was erroneous. The Tribunal emphasized that the AO had properly considered all relevant factors, supporting documents, and judicial precedents, leading to the decision in favor of the assessee. Case-Laws Income Tax Tue, 31 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412004