https://www.taxtmi.com/caselaws?id=765488 ITAT Raipur allowed the assessee company's appeal and set aside the addition made under section 68. The Tribunal found that the AO had conducted proper enquiry regarding interest received from banks, which was adjusted against project expenditure in the financial statements. Since the original section 263 order by Pr. CIT was previously quashed, the subsequent section 143(3) order based on that revision also became invalid. The Tribunal vacated the CIT(Appeals) order and removed the addition made by the AO. en-us Thu, 16 Jan 2025 00:00:00 +0530 Sat, 01 Feb 2025 08:41:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=765488 ITAT Raipur allowed the assessee company's appeal and set aside the addition made under section 68. The Tribunal found that the AO had conducted proper enquiry regarding interest received from banks, which was adjusted against project expenditure in the financial statements. Since the original section 263 order by Pr. CIT was previously quashed, the subsequent section 143(3) order based on that revision also became invalid. The Tribunal vacated the CIT(Appeals) order and removed the addition made by the AO. Case-Laws Income Tax Thu, 16 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=765488