https://www.taxtmi.com/caselaws?id=430817 The Tribunal ruled in favor of the Assessee, finding no infirmity in the assessment order and allowing the appeal. The Principal Commissioner's decision to set aside the Assessing Officer's order for fresh assessment under section 263 of the Income Tax Act was overturned. The Tribunal determined that the assessment was not erroneous or prejudicial to Revenue, as the transactions were tax-neutral and did not impact the Assessee's profitability. The appeal filed by the Assessee was allowed, and the order under section 263 was quashed. en-us Wed, 07 Sep 2022 00:00:00 +0530 Tue, 29 Nov 2022 09:14:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430817 The Tribunal ruled in favor of the Assessee, finding no infirmity in the assessment order and allowing the appeal. The Principal Commissioner's decision to set aside the Assessing Officer's order for fresh assessment under section 263 of the Income Tax Act was overturned. The Tribunal determined that the assessment was not erroneous or prejudicial to Revenue, as the transactions were tax-neutral and did not impact the Assessee's profitability. The appeal filed by the Assessee was allowed, and the order under section 263 was quashed. Case-Laws Income Tax Wed, 07 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430817