https://www.taxtmi.com/caselaws?id=306792 The High Court upheld the Tribunal's decision, ruling that the Commissioner of Income Tax's exercise of power under Section 263 was time-barred based on the Supreme Court precedent. The Court dismissed the Revenue's appeals, addressing the substantial question of law on limitation against the Revenue. However, it left open for adjudication the question concerning the deduction of 10% of cumulative advances under section 36(1)(viia) in suitable cases, with no costs awarded. en-us Mon, 13 Jun 2022 00:00:00 +0530 Fri, 24 Feb 2023 09:04:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306792 The High Court upheld the Tribunal's decision, ruling that the Commissioner of Income Tax's exercise of power under Section 263 was time-barred based on the Supreme Court precedent. The Court dismissed the Revenue's appeals, addressing the substantial question of law on limitation against the Revenue. However, it left open for adjudication the question concerning the deduction of 10% of cumulative advances under section 36(1)(viia) in suitable cases, with no costs awarded. Case-Laws Income Tax Mon, 13 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306792