https://www.taxtmi.com/caselaws?id=415869 The ITAT held that the Pr. CIT's order under Section 263 was not justified as the Assessing Officer had conducted a proper inquiry, and the order was not erroneous or prejudicial to the revenue. The principles of natural justice were violated by the Pr. CIT, and the AO's decision to allow deductions under Section 80P was reasonable and supported by judicial precedents. As a result, the ITAT quashed the Section 263 proceedings and ruled in favor of the assessee. en-us Tue, 02 Nov 2021 00:00:00 +0530 Thu, 16 Dec 2021 09:05:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=415869 The ITAT held that the Pr. CIT's order under Section 263 was not justified as the Assessing Officer had conducted a proper inquiry, and the order was not erroneous or prejudicial to the revenue. The principles of natural justice were violated by the Pr. CIT, and the AO's decision to allow deductions under Section 80P was reasonable and supported by judicial precedents. As a result, the ITAT quashed the Section 263 proceedings and ruled in favor of the assessee. Case-Laws Income Tax Tue, 02 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=415869