https://www.taxtmi.com/caselaws?id=34944 The court upheld the ITAT's decision to set aside the CIT's order under Section 263, as the AO's rectification under Section 154 addressed the deduction issue. It determined that the provision for doubtful debts was correctly treated by the AO and aligned with judicial precedents. The court emphasized that the CIT cannot invoke Section 263 based on a mere difference in opinion when the AO's decision is legally sustainable. The appeal was dismissed, with costs quantified at Rs. 25,000/-. en-us Fri, 09 Oct 2009 00:00:00 +0530 Thu, 15 Mar 2012 16:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=34944 The court upheld the ITAT's decision to set aside the CIT's order under Section 263, as the AO's rectification under Section 154 addressed the deduction issue. It determined that the provision for doubtful debts was correctly treated by the AO and aligned with judicial precedents. The court emphasized that the CIT cannot invoke Section 263 based on a mere difference in opinion when the AO's decision is legally sustainable. The appeal was dismissed, with costs quantified at Rs. 25,000/-. Case-Laws Income Tax Fri, 09 Oct 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=34944