https://www.taxtmi.com/highlights?id=73802 Revision u/s 263 - Incorrect claim of weighted deduction u/s 35(1)(ii) - there can be no two views that when the assessment order was passed by the AO, assessees claim to weighted deduction u/s 35(1)(vii) of the Act was impermissible in law. And it is a foregone conclusion therefore that the allowance of the said claim in assessment framed was patently incorrect. The assessment order was obviously in error in having allowed a patently ineligible deduction to the assessee. - AT en-us Wed, 27 Dec 2023 14:51:01 +0530 Wed, 27 Dec 2023 14:51:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=73802 Revision u/s 263 - Incorrect claim of weighted deduction u/s 35(1)(ii) - there can be no two views that when the assessment order was passed by the AO, assessees claim to weighted deduction u/s 35(1)(vii) of the Act was impermissible in law. And it is a foregone conclusion therefore that the allowance of the said claim in assessment framed was patently incorrect. The assessment order was obviously in error in having allowed a patently ineligible deduction to the assessee. - AT Highlights Income Tax Wed, 27 Dec 2023 14:51:01 +0530 https://www.taxtmi.com/highlights?id=73802