https://www.taxtmi.com/caselaws?id=424614 The Appellate Tribunal ITAT Rajkot upheld the AO's decision regarding the eligibility of the assessee for a deduction under section 80P of the Income Tax Act. The tribunal emphasized that when two views are possible, and the AO has taken a plausible view, the order cannot be deemed erroneous unless unsustainable in law. Consequently, the tribunal quashed the revisional order by the Principal CIT, highlighting the importance of legal sustainability in assessing the correctness of the AO's order. en-us Thu, 30 Jun 2022 00:00:00 +0530 Mon, 04 Jul 2022 07:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424614 The Appellate Tribunal ITAT Rajkot upheld the AO's decision regarding the eligibility of the assessee for a deduction under section 80P of the Income Tax Act. The tribunal emphasized that when two views are possible, and the AO has taken a plausible view, the order cannot be deemed erroneous unless unsustainable in law. Consequently, the tribunal quashed the revisional order by the Principal CIT, highlighting the importance of legal sustainability in assessing the correctness of the AO's order. Case-Laws Income Tax Thu, 30 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424614