https://www.taxtmi.com/caselaws?id=305890 The Tribunal quashed the revision order passed by the Pr. CIT under Section 263, holding it to be bad in law. It was found that the AO had properly examined the business development and promotion expenses during the original assessment proceedings, deeming them genuine and for business purposes. Additionally, the Tribunal ruled that since the statutory approval under Section 153D was not revised, the revision order under Section 263 was invalid. The appeal of the assessee was allowed, and the revision order was set aside. en-us Thu, 22 Oct 2020 00:00:00 +0530 Thu, 29 Dec 2022 09:11:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=305890 The Tribunal quashed the revision order passed by the Pr. CIT under Section 263, holding it to be bad in law. It was found that the AO had properly examined the business development and promotion expenses during the original assessment proceedings, deeming them genuine and for business purposes. Additionally, the Tribunal ruled that since the statutory approval under Section 153D was not revised, the revision order under Section 263 was invalid. The appeal of the assessee was allowed, and the revision order was set aside. Case-Laws Income Tax Thu, 22 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=305890