https://www.taxtmi.com/caselaws?id=416884 The Tribunal quashed the Pr.CIT's order under section 263, ruling in favor of the assessee. It held that the assumption of jurisdiction was erroneous, allowed the deduction under section 80P(2)(a)(i), and applied the doctrine of merger to prevent revision of the original assessment order. The decision was influenced by the Gujarat High Court's interpretation and the CBDT Circular, clarifying the applicability of relevant sections. en-us Fri, 07 Jan 2022 00:00:00 +0530 Mon, 10 Jan 2022 09:01:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416884 The Tribunal quashed the Pr.CIT's order under section 263, ruling in favor of the assessee. It held that the assumption of jurisdiction was erroneous, allowed the deduction under section 80P(2)(a)(i), and applied the doctrine of merger to prevent revision of the original assessment order. The decision was influenced by the Gujarat High Court's interpretation and the CBDT Circular, clarifying the applicability of relevant sections. Case-Laws Income Tax Fri, 07 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416884