https://www.taxtmi.com/caselaws?id=263240 The Tribunal found that the Assessee was not granted sufficient opportunity to defend the case in a Section 263 matter. The Tribunal emphasized the need for caution in exercising revisionary powers and providing ample opportunity to the taxpayer. Consequently, the impugned order was set aside, and the Commissioner of Income Tax was directed to reconsider the Assessee's explanations and decide the matter afresh, ensuring compliance with the law. The Assessee's appeal was allowed for statistical purposes, leading to a remand back to the Commissioner for further consideration. en-us Fri, 07 Aug 2015 00:00:00 +0530 Sat, 29 Aug 2015 05:57:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=263240 The Tribunal found that the Assessee was not granted sufficient opportunity to defend the case in a Section 263 matter. The Tribunal emphasized the need for caution in exercising revisionary powers and providing ample opportunity to the taxpayer. Consequently, the impugned order was set aside, and the Commissioner of Income Tax was directed to reconsider the Assessee's explanations and decide the matter afresh, ensuring compliance with the law. The Assessee's appeal was allowed for statistical purposes, leading to a remand back to the Commissioner for further consideration. Case-Laws Income Tax Fri, 07 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=263240