https://www.taxtmi.com/caselaws?id=436104 The Tribunal quashed the order under section 263, holding that the assessment order was neither erroneous nor prejudicial to the interest of Revenue. The appeal of the assessee was partly allowed, specifically for the exemption/deduction of Rs.54,35,981/- under section 54. The order of the Principal Commissioner of Income Tax under section 263 was overturned, and the deduction under section 54 was upheld in favor of the assessee. en-us Tue, 24 Jan 2023 00:00:00 +0530 Tue, 04 Apr 2023 14:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=436104 The Tribunal quashed the order under section 263, holding that the assessment order was neither erroneous nor prejudicial to the interest of Revenue. The appeal of the assessee was partly allowed, specifically for the exemption/deduction of Rs.54,35,981/- under section 54. The order of the Principal Commissioner of Income Tax under section 263 was overturned, and the deduction under section 54 was upheld in favor of the assessee. Case-Laws Income Tax Tue, 24 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=436104