https://www.taxtmi.com/caselaws?id=429877 The Tribunal allowed the appeal, upholding the original assessment order. It found that the Assessing Officer had diligently examined relevant factors, leading to the disallowance of expenses. The Tribunal concluded that the PCIT's exercise of revisionary power was unwarranted as the Revenue's interests were adequately safeguarded. The judgment emphasized the correct application of Section 263, deductions under Section 80IA, and thorough examination of expenses allocation between manufacturing and Windmill units during assessment. en-us Fri, 26 Aug 2022 00:00:00 +0530 Mon, 07 Nov 2022 09:11:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429877 The Tribunal allowed the appeal, upholding the original assessment order. It found that the Assessing Officer had diligently examined relevant factors, leading to the disallowance of expenses. The Tribunal concluded that the PCIT's exercise of revisionary power was unwarranted as the Revenue's interests were adequately safeguarded. The judgment emphasized the correct application of Section 263, deductions under Section 80IA, and thorough examination of expenses allocation between manufacturing and Windmill units during assessment. Case-Laws Income Tax Fri, 26 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429877