https://www.taxtmi.com/caselaws?id=426108 The appeal was dismissed, upholding the Commissioner of Income Tax (Exemptions) [CIT(E)]'s order. The Tribunal agreed that the Assessing Officer (AO) failed to apply Section 40A(3) provisions and adequately verify expenses, leading to an erroneous and prejudicial assessment. The CIT(E)'s invocation of Section 263 was justified, directing a fresh examination by the AO with proper adherence to the law and providing the assessee a reasonable opportunity. en-us Thu, 21 Jul 2022 00:00:00 +0530 Mon, 08 Aug 2022 09:10:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426108 The appeal was dismissed, upholding the Commissioner of Income Tax (Exemptions) [CIT(E)]'s order. The Tribunal agreed that the Assessing Officer (AO) failed to apply Section 40A(3) provisions and adequately verify expenses, leading to an erroneous and prejudicial assessment. The CIT(E)'s invocation of Section 263 was justified, directing a fresh examination by the AO with proper adherence to the law and providing the assessee a reasonable opportunity. Case-Laws Income Tax Thu, 21 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426108