https://www.taxtmi.com/caselaws?id=421953 The Tribunal allowed the appeals of the assessee, setting aside the order passed by the Principal Commissioner of Income Tax invoking provisions under sec. 263. The Tribunal found violations of natural justice principles in the proceedings and determined that the assessing officer's disallowance of the deduction under sec. 35(2AB) was erroneous. Consequently, the order under sec. 263 was deemed unsustainable, emphasizing the significance of procedural compliance and fair hearing in tax assessments. en-us Fri, 01 Apr 2022 00:00:00 +0530 Wed, 04 May 2022 11:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421953 The Tribunal allowed the appeals of the assessee, setting aside the order passed by the Principal Commissioner of Income Tax invoking provisions under sec. 263. The Tribunal found violations of natural justice principles in the proceedings and determined that the assessing officer's disallowance of the deduction under sec. 35(2AB) was erroneous. Consequently, the order under sec. 263 was deemed unsustainable, emphasizing the significance of procedural compliance and fair hearing in tax assessments. Case-Laws Income Tax Fri, 01 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421953