https://www.taxtmi.com/caselaws?id=430566 The Tribunal allowed the appeal, ruling that Value Added Tax (VAT) paid by the assessee is deductible under Section 37 read with Section 43B of the Income Tax Act, 1961, and does not fall under Section 40(a)(iib). The revision order by the Principal Commissioner of Income Tax under Section 263 was quashed as the original assessment was deemed not erroneous or prejudicial to Revenue interests. en-us Mon, 14 Nov 2022 00:00:00 +0530 Tue, 22 Nov 2022 11:18:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430566 The Tribunal allowed the appeal, ruling that Value Added Tax (VAT) paid by the assessee is deductible under Section 37 read with Section 43B of the Income Tax Act, 1961, and does not fall under Section 40(a)(iib). The revision order by the Principal Commissioner of Income Tax under Section 263 was quashed as the original assessment was deemed not erroneous or prejudicial to Revenue interests. Case-Laws Income Tax Mon, 14 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430566