https://www.taxtmi.com/caselaws?id=302786 The Tribunal held in favor of the assessee in an appeal against the Principal Commissioner of Income Tax's Order under section 263 of the IT Act for AY 2011-12. It was determined that contributions from M/s. LEBARA Ltd. were not taxable in the assessee's hands and were appropriately assessed elsewhere with approval from the Ministry of Home Affairs. As a result, the re-assessment order was deemed not erroneous, leading to the conclusion that the Principal CIT lacked justification for invoking revisionary powers under section 263. The appeal by the assessee was allowed. en-us Wed, 18 Sep 2019 00:00:00 +0530 Mon, 14 Nov 2022 15:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=302786 The Tribunal held in favor of the assessee in an appeal against the Principal Commissioner of Income Tax's Order under section 263 of the IT Act for AY 2011-12. It was determined that contributions from M/s. LEBARA Ltd. were not taxable in the assessee's hands and were appropriately assessed elsewhere with approval from the Ministry of Home Affairs. As a result, the re-assessment order was deemed not erroneous, leading to the conclusion that the Principal CIT lacked justification for invoking revisionary powers under section 263. The appeal by the assessee was allowed. Case-Laws Income Tax Wed, 18 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=302786