https://www.taxtmi.com/caselaws?id=753962 The ITAT Visakhapatnam allowed the assessee's appeal against revision under section 263 regarding disallowance of water charges, water cess, and police protection charges under section 40(a)(iib). The tribunal held that the SC in Kerala State Beverages Manufacturing Marketing Corporation Ltd established that exclusivity under section 40(a)(iib) depends on the nature of undertaking, not the number of undertakings subject to levy. The CIT erred in invoking section 263 provisions, and the tribunal quashed the Principal CIT's order under section 263. en-us Tue, 28 May 2024 00:00:00 +0530 Thu, 13 Jun 2024 13:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=753962 The ITAT Visakhapatnam allowed the assessee's appeal against revision under section 263 regarding disallowance of water charges, water cess, and police protection charges under section 40(a)(iib). The tribunal held that the SC in Kerala State Beverages Manufacturing Marketing Corporation Ltd established that exclusivity under section 40(a)(iib) depends on the nature of undertaking, not the number of undertakings subject to levy. The CIT erred in invoking section 263 provisions, and the tribunal quashed the Principal CIT's order under section 263. Case-Laws Income Tax Tue, 28 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=753962