https://www.taxtmi.com/caselaws?id=441099 The Tribunal found that the Principal CIT erred in revising a scrutiny assessment order that was not erroneous or prejudicial to the revenue's interest. The Tribunal held that the ESOP expenses claimed by the assessee were properly verified and allowable under the law. It concluded that the Principal CIT incorrectly invoked revisional jurisdiction under Section 263 of the Act. As a result, the appeal of the assessee was allowed, and the Tribunal set aside the Principal CIT's order. en-us Wed, 26 Jul 2023 00:00:00 +0530 Wed, 02 Aug 2023 10:12:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441099 The Tribunal found that the Principal CIT erred in revising a scrutiny assessment order that was not erroneous or prejudicial to the revenue's interest. The Tribunal held that the ESOP expenses claimed by the assessee were properly verified and allowable under the law. It concluded that the Principal CIT incorrectly invoked revisional jurisdiction under Section 263 of the Act. As a result, the appeal of the assessee was allowed, and the Tribunal set aside the Principal CIT's order. Case-Laws Income Tax Wed, 26 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441099