https://www.taxtmi.com/caselaws?id=421046 The Tribunal quashed the revision-order passed by the Principal Commissioner of Income Tax (PCIT) under section 263, allowing the appeal of the assessee. The Tribunal found that the original assessment order was not erroneous or prejudicial to the revenue's interest, supporting the set off of brought forward non-speculative business losses against speculative business profits. The decision was pronounced on 24th March 2022. en-us Thu, 24 Mar 2022 00:00:00 +0530 Sat, 16 Apr 2022 08:11:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421046 The Tribunal quashed the revision-order passed by the Principal Commissioner of Income Tax (PCIT) under section 263, allowing the appeal of the assessee. The Tribunal found that the original assessment order was not erroneous or prejudicial to the revenue's interest, supporting the set off of brought forward non-speculative business losses against speculative business profits. The decision was pronounced on 24th March 2022. Case-Laws Income Tax Thu, 24 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421046