https://www.taxtmi.com/caselaws?id=177869 The Tribunal quashed the Commissioner of Income Tax's order under section 263 in an appeal concerning capital gains from the sale of shares for the assessment year 2009-10. The Tribunal found that the Assessing Officer had adequately examined the transactions and that the Commissioner failed to identify any specific errors in the assessment order, leading to the conclusion that the revision was based on presumption rather than concrete evidence. As a result, the Tribunal allowed the appeal filed by the assessee, ruling the Commissioner's order unsustainable. en-us Thu, 29 Jan 2015 00:00:00 +0530 Thu, 21 Jan 2016 07:07:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177869 The Tribunal quashed the Commissioner of Income Tax's order under section 263 in an appeal concerning capital gains from the sale of shares for the assessment year 2009-10. The Tribunal found that the Assessing Officer had adequately examined the transactions and that the Commissioner failed to identify any specific errors in the assessment order, leading to the conclusion that the revision was based on presumption rather than concrete evidence. As a result, the Tribunal allowed the appeal filed by the assessee, ruling the Commissioner's order unsustainable. Case-Laws Income Tax Thu, 29 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177869