https://www.taxtmi.com/caselaws?id=418436 The Tribunal found in favor of the assessee on all three issues raised by the Principal Commissioner of Income Tax (Pr. CIT). The Tribunal held that the assessee's methods for computing book profit under Section 115JB, adding donations for deduction under Section 80G, and claiming weighted deduction under Section 35(1) were correct and consistent with legal precedents. The Pr. CIT's order under Section 263 was quashed for lack of jurisdiction, emphasizing that the Assessing Officer had diligently performed duties, and there were no errors in the original assessment order. en-us Wed, 22 Dec 2021 00:00:00 +0530 Thu, 17 Feb 2022 07:43:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418436 The Tribunal found in favor of the assessee on all three issues raised by the Principal Commissioner of Income Tax (Pr. CIT). The Tribunal held that the assessee's methods for computing book profit under Section 115JB, adding donations for deduction under Section 80G, and claiming weighted deduction under Section 35(1) were correct and consistent with legal precedents. The Pr. CIT's order under Section 263 was quashed for lack of jurisdiction, emphasizing that the Assessing Officer had diligently performed duties, and there were no errors in the original assessment order. Case-Laws Income Tax Wed, 22 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418436