https://www.taxtmi.com/caselaws?id=424266 The appeal was allowed as the assessing officer's order was deemed not erroneous or prejudicial to the revenue's interest for AY 2015-16 under the Income Tax Act, 1961. The delay in filing the appeal was condoned due to exceptional circumstances. The Tribunal found that detailed inquiries were conducted during the limited scrutiny assessment, and the assessing officer had verified the nexus between interest expenses and income. As a result, the order under section 263 was set aside, and the appeal of the assessee was allowed on 17-06-2022. en-us Fri, 17 Jun 2022 00:00:00 +0530 Fri, 24 Jun 2022 13:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424266 The appeal was allowed as the assessing officer's order was deemed not erroneous or prejudicial to the revenue's interest for AY 2015-16 under the Income Tax Act, 1961. The delay in filing the appeal was condoned due to exceptional circumstances. The Tribunal found that detailed inquiries were conducted during the limited scrutiny assessment, and the assessing officer had verified the nexus between interest expenses and income. As a result, the order under section 263 was set aside, and the appeal of the assessee was allowed on 17-06-2022. Case-Laws Income Tax Fri, 17 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424266