https://www.taxtmi.com/caselaws?id=297573 The Tribunal quashed the Principal Commissioner of Income Tax's order under Section 263, finding that the Assessing Officer had correctly applied the law in allowing the deduction under Section 54F. The Tribunal held that the assessment order was not erroneous or prejudicial to revenue, rendering the revisional jurisdiction under Section 263 unjustified. The assessee's appeal was allowed, and the Pr.CIT's order was overturned, with other grounds raised by the assessee considered academic and not addressed. en-us Thu, 25 Mar 2021 00:00:00 +0530 Fri, 10 Sep 2021 17:34:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=297573 The Tribunal quashed the Principal Commissioner of Income Tax's order under Section 263, finding that the Assessing Officer had correctly applied the law in allowing the deduction under Section 54F. The Tribunal held that the assessment order was not erroneous or prejudicial to revenue, rendering the revisional jurisdiction under Section 263 unjustified. The assessee's appeal was allowed, and the Pr.CIT's order was overturned, with other grounds raised by the assessee considered academic and not addressed. Case-Laws Income Tax Thu, 25 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=297573