https://www.taxtmi.com/caselaws?id=420203 The tribunal held that the PCIT, Ahmedabad, had jurisdiction to pass the order under Section 263 of the Income Tax Act, rejecting the assessee's contention. Regarding the claim of additional depreciation and investment allowance on transferred machinery, the tribunal found the assessment order was not erroneous as the claims were made on new assets, not the transferred machinery. The disallowance of advertisement expenses and legal fees due to non-deduction of TDS was also overturned as the tribunal determined the claims were in accordance with the law. The tribunal set aside the PCIT's revisionary order and allowed the appeal of the assessee. en-us Fri, 25 Mar 2022 00:00:00 +0530 Tue, 29 Mar 2022 08:36:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420203 The tribunal held that the PCIT, Ahmedabad, had jurisdiction to pass the order under Section 263 of the Income Tax Act, rejecting the assessee's contention. Regarding the claim of additional depreciation and investment allowance on transferred machinery, the tribunal found the assessment order was not erroneous as the claims were made on new assets, not the transferred machinery. The disallowance of advertisement expenses and legal fees due to non-deduction of TDS was also overturned as the tribunal determined the claims were in accordance with the law. The tribunal set aside the PCIT's revisionary order and allowed the appeal of the assessee. Case-Laws Income Tax Fri, 25 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420203