https://www.taxtmi.com/caselaws?id=431528 The Tribunal partially allowed the appellant's appeal, upholding the Principal Commissioner of Income Tax's (PCIT) revision directions under Section 263 regarding tax calculations and investments. The Tribunal reversed the PCIT's directions on interest disallowance under Section 36(1)(iii) and deemed rent computation under Section 23, citing insufficient inquiries by the Assessing Officer. Regarding the alleged difference in stamp valuation and purchase consideration under Section 56(2)(vii), the Tribunal reversed the PCIT's directions in part, emphasizing legislative provisions and case law. The order was pronounced on 13.12.2022, addressing various issues raised by the appellant. en-us Tue, 13 Dec 2022 00:00:00 +0530 Wed, 14 Dec 2022 14:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431528 The Tribunal partially allowed the appellant's appeal, upholding the Principal Commissioner of Income Tax's (PCIT) revision directions under Section 263 regarding tax calculations and investments. The Tribunal reversed the PCIT's directions on interest disallowance under Section 36(1)(iii) and deemed rent computation under Section 23, citing insufficient inquiries by the Assessing Officer. Regarding the alleged difference in stamp valuation and purchase consideration under Section 56(2)(vii), the Tribunal reversed the PCIT's directions in part, emphasizing legislative provisions and case law. The order was pronounced on 13.12.2022, addressing various issues raised by the appellant. Case-Laws Income Tax Tue, 13 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431528