https://www.taxtmi.com/caselaws?id=209425 The tribunal held that the Commissioner of Income Tax's invocation of Section 263 was unjustified as the Assessing Officer's decision to accept the gifts was not erroneous or prejudicial to the Revenue. The tribunal reinstated the assessment orders accepting the gifts, emphasizing that disagreement alone does not render an AO's decision erroneous if it is based on a permissible view under the law. The appeals were allowed, and the revisional order was set aside. en-us Thu, 16 Sep 2010 00:00:00 +0530 Fri, 19 Jul 2013 20:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=209425 The tribunal held that the Commissioner of Income Tax's invocation of Section 263 was unjustified as the Assessing Officer's decision to accept the gifts was not erroneous or prejudicial to the Revenue. The tribunal reinstated the assessment orders accepting the gifts, emphasizing that disagreement alone does not render an AO's decision erroneous if it is based on a permissible view under the law. The appeals were allowed, and the revisional order was set aside. Case-Laws Income Tax Thu, 16 Sep 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=209425