https://www.taxtmi.com/caselaws?id=429281 The Tribunal quashed the order passed by the Ld. Pr. CIT under section 263 of the Income-tax Act, holding that it was not erroneous or prejudicial to the interest of the revenue. The Tribunal found that the income in question had been properly disclosed and offered for taxation, and the AO had correctly assessed it. Therefore, the initiation of proceedings under section 263 was deemed unjustified, and the appeal of the assessee was allowed. en-us Tue, 18 Oct 2022 00:00:00 +0530 Fri, 21 Oct 2022 07:26:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429281 The Tribunal quashed the order passed by the Ld. Pr. CIT under section 263 of the Income-tax Act, holding that it was not erroneous or prejudicial to the interest of the revenue. The Tribunal found that the income in question had been properly disclosed and offered for taxation, and the AO had correctly assessed it. Therefore, the initiation of proceedings under section 263 was deemed unjustified, and the appeal of the assessee was allowed. Case-Laws Income Tax Tue, 18 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429281