Held, that the Assessing Officer had failed to examine the entire expenditure incurred by the assessee including the expenditure relating to dividend income. The assessment order passed by the Assessing Officer was erroneous and prejudicial to the interests of the Revenue and the Assessing Officer was directed to redo the assessment in accordance with law without being influenced by the observations made by the Principal Commissioner. (AY.2015-16, 2016-17)
Chettinad Lignite Transport Services Pvt. Ltd. v. PCIT (2022) 93 ITR 74 (SN) (Chennnai)(Trib.)
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Failure to examine expenditure incurred with reference to dividend income-Revision is held to be valid. [S. 14A, 8D(2)(iii)]