https://www.taxtmi.com/highlights?id=83731 The Principal Commissioner of Income Tax rightly invoked revision u/s 263 against the assessment order. Despite being afforded multiple opportunities, the assessee failed to provide supporting documents to substantiate its claim for exemption u/ss 10(23C)(iiiab) and 10(23C)(iiiac) for a substantial sum. The Assessing Officer, despite noting the lack of proof, did not make any disallowance regarding the exemption claim in the assessment order. This rendered the order erroneous and prejudicial to the Revenue's interests, justifying its revision. Consequently, the assessee's appeal was dismissed by the Appellate Tribunal. en-us Fri, 06 Dec 2024 08:47:01 +0530 Fri, 06 Dec 2024 08:47:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=83731 The Principal Commissioner of Income Tax rightly invoked revision u/s 263 against the assessment order. Despite being afforded multiple opportunities, the assessee failed to provide supporting documents to substantiate its claim for exemption u/ss 10(23C)(iiiab) and 10(23C)(iiiac) for a substantial sum. The Assessing Officer, despite noting the lack of proof, did not make any disallowance regarding the exemption claim in the assessment order. This rendered the order erroneous and prejudicial to the Revenue's interests, justifying its revision. Consequently, the assessee's appeal was dismissed by the Appellate Tribunal. Highlights Income Tax Fri, 06 Dec 2024 08:47:01 +0530 https://www.taxtmi.com/highlights?id=83731