https://www.taxtmi.com/caselaws?id=299522 The Tribunal held that the Principal Commissioner of Income Tax's invocation of Section 263 was not justified as the Assessing Officer had adopted a legally permissible view regarding the assessment order. The Tribunal quashed the revision order under Section 263 and allowed the appeals filed by the assessee, concluding that the revenue recognition method and treatment of Transferable Development Rights were in accordance with accounting principles and guidelines. en-us Fri, 08 Mar 2019 00:00:00 +0530 Sat, 18 Dec 2021 11:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299522 The Tribunal held that the Principal Commissioner of Income Tax's invocation of Section 263 was not justified as the Assessing Officer had adopted a legally permissible view regarding the assessment order. The Tribunal quashed the revision order under Section 263 and allowed the appeals filed by the assessee, concluding that the revenue recognition method and treatment of Transferable Development Rights were in accordance with accounting principles and guidelines. Case-Laws Income Tax Fri, 08 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299522