https://www.taxtmi.com/caselaws?id=436498 The Tribunal allowed the appeal, quashing the CIT's order under section 263 and upholding the AO's rectification under section 154. It confirmed that interest awarded under the Land Acquisition Act is not taxable, in line with the Supreme Court's decision. The Tribunal emphasized the non-adversarial nature of income tax proceedings and upheld the AO's rectification as per the law and CBDT circular, ruling in favor of the assessee. en-us Thu, 23 Mar 2023 00:00:00 +0530 Thu, 13 Apr 2023 17:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=436498 The Tribunal allowed the appeal, quashing the CIT's order under section 263 and upholding the AO's rectification under section 154. It confirmed that interest awarded under the Land Acquisition Act is not taxable, in line with the Supreme Court's decision. The Tribunal emphasized the non-adversarial nature of income tax proceedings and upheld the AO's rectification as per the law and CBDT circular, ruling in favor of the assessee. Case-Laws Income Tax Thu, 23 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=436498