HC slams CIT for initiating revision to correct claim of sec. 10B deduction as same was never claimed by assessee

INCOME TAX : Where proceedings under section 263 were initiated by Commissioner on ground that deduction under section 10B had been allowed without excluding other incomes, but it was found that in assessment order passed under section 143(3), Assessing Officer had categorically stated that assessee had not claimed deduction under section 10B, finding of Commissioner that assessee had claimed deduction under section 10B was factually incorrect and, thus revision was not justifiedINCOME TAX : Where proceedings under section 263 were initiated by Commissioner on ground that deduction under section 10B had been allowed without excluding other incomes, but it was found that in assessment order passed under section 143(3), Assessing Officer had categorically stated that assessee had not claimed deduction under section 10B, finding of Commissioner that assessee had claimed deduction under section 10B was factually incorrect and, thus revision was not justifiedwww.taxmann.com Latest Case LawsRead More

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