https://www.taxtmi.com/caselaws?id=435323 The Tribunal allowed the assessee's appeal, quashing the PCIT's revision order. The Tribunal held that the deduction under section 80IA did not require adjustment for losses from prior years, in line with CBDT Circular No.1 of 2016. It also found that the exemption under section 10(38) was valid as the AO had sought and received necessary information. Additionally, the disallowance of expenses under section 14A was deemed unnecessary due to the assessee's sufficient own funds. The appeal was decided in favor of the assessee on 17-01-2023. en-us Tue, 17 Jan 2023 00:00:00 +0530 Thu, 16 Mar 2023 11:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=435323 The Tribunal allowed the assessee's appeal, quashing the PCIT's revision order. The Tribunal held that the deduction under section 80IA did not require adjustment for losses from prior years, in line with CBDT Circular No.1 of 2016. It also found that the exemption under section 10(38) was valid as the AO had sought and received necessary information. Additionally, the disallowance of expenses under section 14A was deemed unnecessary due to the assessee's sufficient own funds. The appeal was decided in favor of the assessee on 17-01-2023. Case-Laws Income Tax Tue, 17 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=435323