Deciding two connected writ petitions arising from a common Industrial Tribunal Award, the Delhi High Court set aside the Tribunal's direction granting hotel workmen a further…
Labour Laws
06/09/20264 min read
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No Error in AO’s Order, Interest Deduction u/s 24(b) on Property Loan Valid: ITAT overturns PCIT’s Order
Appeal Against OrderIncome Tax
ITAT overturned PCIT’s revision order and upheld the AO’s acceptance of a deduction under Section 24(b) for housing loan interest. The Tribunal noted there was no error or prejudice in the original assessment that warranted revision under Section 263. The case strengthens the protection for taxpayers from unjustified revision proceedings when proper documentation and legal provisions are followed.
