https://www.taxtmi.com/caselaws?id=412913 The tribunal quashed the order passed under section 263, finding that the Assessing Officer adequately investigated the deduction under section 80IB(11A) and the decrease in gross profit rate. It was determined that Explanation 2 to section 263 was not applicable to the relevant assessment year. The assessment order was deemed not erroneous or detrimental to Revenue interests, leading to the Principal Commissioner of Income Tax's jurisdiction under section 263 being deemed unwarranted. en-us Fri, 24 Sep 2021 00:00:00 +0530 Thu, 30 Sep 2021 09:20:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412913 The tribunal quashed the order passed under section 263, finding that the Assessing Officer adequately investigated the deduction under section 80IB(11A) and the decrease in gross profit rate. It was determined that Explanation 2 to section 263 was not applicable to the relevant assessment year. The assessment order was deemed not erroneous or detrimental to Revenue interests, leading to the Principal Commissioner of Income Tax's jurisdiction under section 263 being deemed unwarranted. Case-Laws Income Tax Fri, 24 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412913