https://www.taxtmi.com/caselaws?id=226218 The Tribunal was justified in cancelling the Commissioner's revisionary order under section 263 because the Assessing Officer had made the necessary enquiries and the assessment could not be treated as erroneous and prejudicial to the interests of revenue merely for being completed quickly. The Tribunal relied on the registered trust deed and supporting material to find that the trust had been validly created and was carrying on business. It also rejected the Commissioner's objection based on the rule against perpetuity under section 14 of the Transfer of Property Act, 1882. The Tribunal's conclusions were essentially findings of fact, and those factual findings supported setting aside the revision. en-us Thu, 04 Apr 2013 00:00:00 +0530 Mon, 22 Apr 2013 08:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=226218 The Tribunal was justified in cancelling the Commissioner's revisionary order under section 263 because the Assessing Officer had made the necessary enquiries and the assessment could not be treated as erroneous and prejudicial to the interests of revenue merely for being completed quickly. The Tribunal relied on the registered trust deed and supporting material to find that the trust had been validly created and was carrying on business. It also rejected the Commissioner's objection based on the rule against perpetuity under section 14 of the Transfer of Property Act, 1882. The Tribunal's conclusions were essentially findings of fact, and those factual findings supported setting aside the revision. Case-Laws Income Tax Thu, 04 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=226218