Tribunal Rules Misapplication of Section 263 in TDS Disallowance; No Revenue Loss Found Due to Timing of Payments.

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....Revision u/s 263 - Disallowance u/s 40(a)(ia) on non deduction of TDS - The Tribunal found that the Principal Commissioner had incorrectly invoked section 263 as the payments and Tax Deducted at Source (TDS) were related to the subsequent financial year and there was no revenue implication or prejudice to the Revenue.....