https://www.taxtmi.com/caselaws?id=442276 The tribunal found in favor of the assessee in an appeal against a revision order under Section 263 of the Income-tax Act, 1961. The Principal Commissioner of Income-Tax-1 set aside the assessment order for AY 2017-18, deeming it erroneous due to alleged failure in verifying interest expenditure deduction. However, the tribunal determined that the Assessing Officer had conducted sufficient inquiries and accepted the explanations provided by the assessee. Consequently, the revision order was deemed invalid, and the original assessment order was reinstated, ruling in favor of the assessee. en-us Thu, 24 Aug 2023 00:00:00 +0530 Sun, 27 Aug 2023 23:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=442276 The tribunal found in favor of the assessee in an appeal against a revision order under Section 263 of the Income-tax Act, 1961. The Principal Commissioner of Income-Tax-1 set aside the assessment order for AY 2017-18, deeming it erroneous due to alleged failure in verifying interest expenditure deduction. However, the tribunal determined that the Assessing Officer had conducted sufficient inquiries and accepted the explanations provided by the assessee. Consequently, the revision order was deemed invalid, and the original assessment order was reinstated, ruling in favor of the assessee. Case-Laws Income Tax Thu, 24 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=442276