https://www.taxtmi.com/caselaws?id=415932 The Tribunal set aside the order passed under section 263 of the Income Tax Act for the assessment year 2015-16, restoring the original assessment order. The Tribunal found the allowance of depreciation on motor cars and interest expenses to be valid, rejecting the contention that the order was beyond the period of limitation. The appeal was allowed, emphasizing that the assessment order was not erroneous, and the Principal Commissioner's decision was overturned. en-us Tue, 23 Nov 2021 00:00:00 +0530 Fri, 17 Dec 2021 08:53:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=415932 The Tribunal set aside the order passed under section 263 of the Income Tax Act for the assessment year 2015-16, restoring the original assessment order. The Tribunal found the allowance of depreciation on motor cars and interest expenses to be valid, rejecting the contention that the order was beyond the period of limitation. The appeal was allowed, emphasizing that the assessment order was not erroneous, and the Principal Commissioner's decision was overturned. Case-Laws Income Tax Tue, 23 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=415932