https://www.taxtmi.com/caselaws?id=248111 The Tribunal allowed the appeal, determining that the addition made under Section 68 of the Income Tax Act should be considered as income from the business of the assessee. The Tribunal emphasized that the Administrative Commissioner had no valid reason to revise the order under Section 263 of the Act. Additionally, the Tribunal dismissed the revenue's appeal regarding the treatment of unexplained cash credit under Section 68, affirming that the Administrative Commissioner lacked jurisdiction to invoke Section 263, resulting in the rejection of the subsequent assessment order. en-us Fri, 28 Mar 2014 00:00:00 +0530 Mon, 02 Jun 2014 10:21:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=248111 The Tribunal allowed the appeal, determining that the addition made under Section 68 of the Income Tax Act should be considered as income from the business of the assessee. The Tribunal emphasized that the Administrative Commissioner had no valid reason to revise the order under Section 263 of the Act. Additionally, the Tribunal dismissed the revenue's appeal regarding the treatment of unexplained cash credit under Section 68, affirming that the Administrative Commissioner lacked jurisdiction to invoke Section 263, resulting in the rejection of the subsequent assessment order. Case-Laws Income Tax Fri, 28 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=248111