Opportunity to respond to jurisdictional reports is mandatory before customs settlement duty enhancement; connected applications require consistent ad...
Specific customs headings for scaffolding components prevail over general classification, invalidating misclassification proceedings and enabling with...
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ITAT held that revision under section 263 was not justified because the AO had made adequate enquiry on cash sales, cash deposits, opening stock and purchases, and the assessee had furnished replies and records during assessment. The Tribunal found no lack of enquiry and held that the Principal Commissioner could not invoke revision merely to substitute a different view on the same material. Applying the principle that section 263 requires both error and prejudice to revenue, and that revision is unavailable where two plausible views exist, the Tribunal quashed the revisionary orders and allowed all three appeals.
ITAT held that revision under section 263 was not justified because the AO had made adequate enquiry on cash sales, cash deposits, opening stock and purchases, and the assessee had furnished replies and records during assessment. The Tribunal found no lack of enquiry and held that the Principal Commissioner could not invoke revision merely to substitute a different view on the same material. Applying the principle that section 263 requires both error and prejudice to revenue, and that revision is unavailable where two plausible views exist, the Tribunal quashed the revisionary orders and allowed all three appeals.
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