https://www.taxtmi.com/caselaws?id=431090 The Tribunal allowed the appeal, ruling the Principal Commissioner of Income Tax's order under section 263 invalid. The retrospective application of the amendment to Explanation to section 73 was upheld. Disallowance under section 14A and excess depreciation on fixed assets were deemed not subject to revision under section 263 due to time constraints and irrelevance to reassessment. en-us Tue, 13 Sep 2022 00:00:00 +0530 Mon, 05 Dec 2022 21:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431090 The Tribunal allowed the appeal, ruling the Principal Commissioner of Income Tax's order under section 263 invalid. The retrospective application of the amendment to Explanation to section 73 was upheld. Disallowance under section 14A and excess depreciation on fixed assets were deemed not subject to revision under section 263 due to time constraints and irrelevance to reassessment. Case-Laws Income Tax Tue, 13 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431090