https://www.taxtmi.com/caselaws?id=773969 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s cancellation of an assessment order passed under Section 144 read with Section 263. The Tribunal had previously set aside the foundational Section 263 order in an earlier appeal, finding the original assessment was neither erroneous nor prejudicial to Revenue's interest. Since the Section 263 order was invalid, the consequential assessment order could not survive. The Tribunal held that additions made under Sections 69, 56(2)(vii), and disallowances under Section 14A were properly deleted by CIT(A). The pendency of Revenue's appeal before HC without stay did not affect the binding nature of the Tribunal's order. en-us Fri, 13 Jun 2025 00:00:00 +0530 Tue, 01 Jul 2025 08:47:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773969 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s cancellation of an assessment order passed under Section 144 read with Section 263. The Tribunal had previously set aside the foundational Section 263 order in an earlier appeal, finding the original assessment was neither erroneous nor prejudicial to Revenue's interest. Since the Section 263 order was invalid, the consequential assessment order could not survive. The Tribunal held that additions made under Sections 69, 56(2)(vii), and disallowances under Section 14A were properly deleted by CIT(A). The pendency of Revenue's appeal before HC without stay did not affect the binding nature of the Tribunal's order. Case-Laws Income Tax Fri, 13 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773969