https://www.taxtmi.com/caselaws?id=412455 The ITAT quashed the Pr.CIT's order under Section 263, ruling that the AO's decision was not erroneous or prejudicial to revenue. The ITAT upheld the classification of gains as Capital Gains, emphasizing adherence to binding precedents and the restricted scope of limited scrutiny. The assessee's appeals were successful, affirming the Capital Gains treatment and rejecting the Pr.CIT's directives. en-us Wed, 15 Sep 2021 00:00:00 +0530 Sat, 18 Sep 2021 08:09:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412455 The ITAT quashed the Pr.CIT's order under Section 263, ruling that the AO's decision was not erroneous or prejudicial to revenue. The ITAT upheld the classification of gains as Capital Gains, emphasizing adherence to binding precedents and the restricted scope of limited scrutiny. The assessee's appeals were successful, affirming the Capital Gains treatment and rejecting the Pr.CIT's directives. Case-Laws Income Tax Wed, 15 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412455