https://www.taxtmi.com/caselaws?id=418238 The Tribunal upheld the Principal Commissioner of Income Tax's invocation of section 263, finding the assessment order erroneous. It directed the Assessing Officer to tax interest income appropriately and allow proportionate expenses. The appeal was partly allowed for statistical purposes, with instructions for the AO to provide the assessee an opportunity to present evidence in set-aside proceedings. en-us Tue, 08 Feb 2022 00:00:00 +0530 Fri, 11 Feb 2022 07:22:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418238 The Tribunal upheld the Principal Commissioner of Income Tax's invocation of section 263, finding the assessment order erroneous. It directed the Assessing Officer to tax interest income appropriately and allow proportionate expenses. The appeal was partly allowed for statistical purposes, with instructions for the AO to provide the assessee an opportunity to present evidence in set-aside proceedings. Case-Laws Income Tax Tue, 08 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418238