https://www.taxtmi.com/caselaws?id=60256 The Tribunal allowed the assessee's appeal, quashing the CIT's order under section 263 and upholding the AO's assessment order. The AO's determination of the fair rent and application of Rule 3(1) of the IT Rules were deemed reasonable, and the Tribunal found no error or prejudice to the Revenue in the assessment. The Tribunal held that the CIT's invocation of jurisdiction under section 263 was not justified, ultimately ruling in favor of the assessee. en-us Fri, 20 Nov 2009 00:00:00 +0530 Tue, 04 Jan 2011 14:17:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60256 The Tribunal allowed the assessee's appeal, quashing the CIT's order under section 263 and upholding the AO's assessment order. The AO's determination of the fair rent and application of Rule 3(1) of the IT Rules were deemed reasonable, and the Tribunal found no error or prejudice to the Revenue in the assessment. The Tribunal held that the CIT's invocation of jurisdiction under section 263 was not justified, ultimately ruling in favor of the assessee. Case-Laws Income Tax Fri, 20 Nov 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60256