https://www.taxtmi.com/caselaws?id=176574 The tribunal partly allowed the Assessee's appeal, quashing the CIT's order under Section 263 as the AO's decision was not considered erroneous or prejudicial to the revenue's interest. However, the tribunal dismissed arguments regarding the limitation period, revisional jurisdiction, and the addition of a loan receipt of Rs. 6 crores, stating that the proceedings under Section 263 were not time-barred, the CIT could revise the order under Section 153C, and the loan transaction was already examined during assessment proceedings under Section 153C. en-us Fri, 23 Jan 2015 00:00:00 +0530 Thu, 24 Dec 2015 23:11:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=176574 The tribunal partly allowed the Assessee's appeal, quashing the CIT's order under Section 263 as the AO's decision was not considered erroneous or prejudicial to the revenue's interest. However, the tribunal dismissed arguments regarding the limitation period, revisional jurisdiction, and the addition of a loan receipt of Rs. 6 crores, stating that the proceedings under Section 263 were not time-barred, the CIT could revise the order under Section 153C, and the loan transaction was already examined during assessment proceedings under Section 153C. Case-Laws Income Tax Fri, 23 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=176574