https://www.taxtmi.com/caselaws?id=432720 The Tribunal allowed the Assessee's appeal, setting aside the Principal CIT's order under Section 263 of the Income Tax Act. The Tribunal found that the original assessment order was not erroneous and did not prejudice the Revenue's interests. The Tribunal upheld the AO's decision to consider the carry-forward losses based on the pending appeal outcome for the previous year, ruling that it was legally sound and in line with the provisions of the Act. en-us Wed, 28 Sep 2022 00:00:00 +0530 Thu, 12 Jan 2023 07:22:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432720 The Tribunal allowed the Assessee's appeal, setting aside the Principal CIT's order under Section 263 of the Income Tax Act. The Tribunal found that the original assessment order was not erroneous and did not prejudice the Revenue's interests. The Tribunal upheld the AO's decision to consider the carry-forward losses based on the pending appeal outcome for the previous year, ruling that it was legally sound and in line with the provisions of the Act. Case-Laws Income Tax Wed, 28 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432720