https://www.taxtmi.com/caselaws?id=425785 The tribunal found in favor of the assessee, a publicly listed company, in a case involving revenue recognition, investments in private limited companies, and the invocation of Section 263 of the Income Tax Act. The tribunal upheld the assessee's revenue recognition method based on the percentage of completion, deemed the investments in private companies as strategic decisions, and concluded that the AO's order was neither erroneous nor prejudicial to revenue, thereby setting aside the Pr.CIT's order and restoring the assessment order passed by the AO. The appeal filed by the assessee was allowed. en-us Wed, 29 Jun 2022 00:00:00 +0530 Mon, 01 Aug 2022 13:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425785 The tribunal found in favor of the assessee, a publicly listed company, in a case involving revenue recognition, investments in private limited companies, and the invocation of Section 263 of the Income Tax Act. The tribunal upheld the assessee's revenue recognition method based on the percentage of completion, deemed the investments in private companies as strategic decisions, and concluded that the AO's order was neither erroneous nor prejudicial to revenue, thereby setting aside the Pr.CIT's order and restoring the assessment order passed by the AO. The appeal filed by the assessee was allowed. Case-Laws Income Tax Wed, 29 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425785