https://www.taxtmi.com/caselaws?id=432159 The Tribunal set aside the Principal Commissioner of Income Tax's order under Section 263, ruling that the Assessing Officer had conducted a thorough inquiry into the advertisement and sales promotion expenses, making specific disallowances based on the information provided. The Tribunal held that the AO's order was not erroneous, as the AO had adopted a permissible course in law. Consequently, the PCIT's invocation of Section 263 was deemed unjustified, and the appeal filed by the assessee was allowed. en-us Mon, 26 Dec 2022 00:00:00 +0530 Thu, 29 Dec 2022 09:13:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432159 The Tribunal set aside the Principal Commissioner of Income Tax's order under Section 263, ruling that the Assessing Officer had conducted a thorough inquiry into the advertisement and sales promotion expenses, making specific disallowances based on the information provided. The Tribunal held that the AO's order was not erroneous, as the AO had adopted a permissible course in law. Consequently, the PCIT's invocation of Section 263 was deemed unjustified, and the appeal filed by the assessee was allowed. Case-Laws Income Tax Mon, 26 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432159