https://www.taxtmi.com/caselaws?id=433601 The tribunal partly allowed the appeal challenging the order passed under section 263 of the Income Tax Act, 1961. The assessment order was set aside for further examination on issues such as taxability of annual letting value of unsold stock, loss on sale of a car, and TDS interest and penalty. The tribunal upheld the revisionary order on disallowance of the loss on the sale of a car and TDS interest and penalty, finding the assessment erroneous and prejudicial to the revenue's interest. The appeal was partly allowed based on a detailed analysis of each issue raised. en-us Tue, 31 Jan 2023 00:00:00 +0530 Sat, 04 Feb 2023 08:42:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433601 The tribunal partly allowed the appeal challenging the order passed under section 263 of the Income Tax Act, 1961. The assessment order was set aside for further examination on issues such as taxability of annual letting value of unsold stock, loss on sale of a car, and TDS interest and penalty. The tribunal upheld the revisionary order on disallowance of the loss on the sale of a car and TDS interest and penalty, finding the assessment erroneous and prejudicial to the revenue's interest. The appeal was partly allowed based on a detailed analysis of each issue raised. Case-Laws Income Tax Tue, 31 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433601