https://www.taxtmi.com/caselaws?id=428895 The Tribunal quashed the order passed by the Principal Commissioner of Income Tax (Pr. CIT) under Section 263, holding that the Assessing Officer's assessment was not erroneous or prejudicial to the Revenue. The appeal by the assessee was allowed, with the Tribunal finding in favor of the appellant on issues related to the validity of the order, adequacy of opportunity provided, examination of the nature of the land under acquisition, assessment of compensation received on compulsory acquisition of land, and the applicability of Section 115JB for computing book profit. en-us Mon, 26 Sep 2022 00:00:00 +0530 Thu, 13 Oct 2022 08:28:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428895 The Tribunal quashed the order passed by the Principal Commissioner of Income Tax (Pr. CIT) under Section 263, holding that the Assessing Officer's assessment was not erroneous or prejudicial to the Revenue. The appeal by the assessee was allowed, with the Tribunal finding in favor of the appellant on issues related to the validity of the order, adequacy of opportunity provided, examination of the nature of the land under acquisition, assessment of compensation received on compulsory acquisition of land, and the applicability of Section 115JB for computing book profit. Case-Laws Income Tax Mon, 26 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428895