https://www.taxtmi.com/caselaws?id=424917 The Tribunal allowed the appeal of the assessee, setting aside the order of the Principal Commissioner of Income Tax (PCIT). The Tribunal found that the issues of interest expenditure and the method of accounting for revenue recognition had been properly examined and verified by the Assessing Officer (AO) during the assessment proceedings. Therefore, the assessment order was deemed not erroneous or prejudicial to the revenue's interests. Consequently, the appeal was allowed, and the order of the PCIT was overturned. en-us Fri, 29 Apr 2022 00:00:00 +0530 Mon, 09 Jan 2023 15:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424917 The Tribunal allowed the appeal of the assessee, setting aside the order of the Principal Commissioner of Income Tax (PCIT). The Tribunal found that the issues of interest expenditure and the method of accounting for revenue recognition had been properly examined and verified by the Assessing Officer (AO) during the assessment proceedings. Therefore, the assessment order was deemed not erroneous or prejudicial to the revenue's interests. Consequently, the appeal was allowed, and the order of the PCIT was overturned. Case-Laws Income Tax Fri, 29 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424917