https://www.taxtmi.com/caselaws?id=215744 Section 263 revision was unsustainable because the Commissioner failed to show that the assessment order was both erroneous and prejudicial to the interests of the revenue. The Tribunal accepted that the assessee had adequately explained the retraction of the recorded statement, no material established suppression of receipts for the relevant assessment years, and the Assessing Officer had made additions on an estimated basis after considering the facts and obtaining the necessary approval. As a result, interference with the assessment under section 263 was held unwarranted and the order setting aside the revisional was sustained in favour of the assessee. en-us Mon, 06 Aug 2012 00:00:00 +0530 Tue, 16 Feb 2016 12:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215744 Section 263 revision was unsustainable because the Commissioner failed to show that the assessment order was both erroneous and prejudicial to the interests of the revenue. The Tribunal accepted that the assessee had adequately explained the retraction of the recorded statement, no material established suppression of receipts for the relevant assessment years, and the Assessing Officer had made additions on an estimated basis after considering the facts and obtaining the necessary approval. As a result, interference with the assessment under section 263 was held unwarranted and the order setting aside the revisional was sustained in favour of the assessee. Case-Laws Income Tax Mon, 06 Aug 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215744