https://www.taxtmi.com/caselaws?id=444612 The ITAT set aside the order under section 263, deeming it unsustainable in law. The Tribunal highlighted that the issues of Royalty Expenses and Legal Professional Fees had been previously settled in favor of the appellant for earlier assessment years. It emphasized that an assessment order cannot be considered erroneous if there is a settled legal position favoring the assessee. Consequently, the appeal was allowed, underscoring the necessity for revenue officers to adhere to appellate decisions and judicial precedents. The decision was pronounced on 25th July 2023. en-us Tue, 25 Jul 2023 00:00:00 +0530 Wed, 18 Oct 2023 17:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444612 The ITAT set aside the order under section 263, deeming it unsustainable in law. The Tribunal highlighted that the issues of Royalty Expenses and Legal Professional Fees had been previously settled in favor of the appellant for earlier assessment years. It emphasized that an assessment order cannot be considered erroneous if there is a settled legal position favoring the assessee. Consequently, the appeal was allowed, underscoring the necessity for revenue officers to adhere to appellate decisions and judicial precedents. The decision was pronounced on 25th July 2023. Case-Laws Income Tax Tue, 25 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444612