https://www.taxtmi.com/caselaws?id=263555 The Tribunal held that the Commissioner of Income Tax (CIT) lacked justification in invoking Section 263 as specific errors in the assessment order prejudicial to Revenue were not demonstrated. The CIT's order was quashed, and the assessee's appeal was allowed, emphasizing that revisionary powers under Section 263 cannot be invoked based on suspicions or preferences for a different mode of enquiry. The Tribunal highlighted that the Assessing Officer had conducted proper enquiries before concluding the assessment, leading to the decision in favor of the assessee on 26th August 2015. en-us Wed, 26 Aug 2015 00:00:00 +0530 Fri, 04 Sep 2015 16:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=263555 The Tribunal held that the Commissioner of Income Tax (CIT) lacked justification in invoking Section 263 as specific errors in the assessment order prejudicial to Revenue were not demonstrated. The CIT's order was quashed, and the assessee's appeal was allowed, emphasizing that revisionary powers under Section 263 cannot be invoked based on suspicions or preferences for a different mode of enquiry. The Tribunal highlighted that the Assessing Officer had conducted proper enquiries before concluding the assessment, leading to the decision in favor of the assessee on 26th August 2015. Case-Laws Income Tax Wed, 26 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=263555