https://www.taxtmi.com/caselaws?id=304871 The Tribunal held that the order passed under Section 263 by the Principal Commissioner of Income-Tax was not sustainable. The failure to refer transactions to the Transfer Pricing Officer and the allowance of depreciation on goodwill did not render the assessment order erroneous or prejudicial to the interest of Revenue. As a result, the appeal by the assessee, Bhavani Gems Private Limited, was allowed, and the order under Section 263 was quashed. en-us Fri, 29 Apr 2022 00:00:00 +0530 Tue, 01 Nov 2022 20:49:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=304871 The Tribunal held that the order passed under Section 263 by the Principal Commissioner of Income-Tax was not sustainable. The failure to refer transactions to the Transfer Pricing Officer and the allowance of depreciation on goodwill did not render the assessment order erroneous or prejudicial to the interest of Revenue. As a result, the appeal by the assessee, Bhavani Gems Private Limited, was allowed, and the order under Section 263 was quashed. Case-Laws Income Tax Fri, 29 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=304871