https://www.taxtmi.com/caselaws?id=272210 The Tribunal quashed the revision order passed by the Commissioner under Section 263 of the Income Tax Act, holding that the Commissioner erred in exercising his revision powers. The Tribunal allowed the appeal, emphasizing that the Assessing Officer's decision was well-considered and not erroneous or prejudicial to the revenue's interest. The Tribunal highlighted that the Commissioner's initiation of revision proceedings while the matter was pending before the CIT(A) was improper, citing relevant case law to support its decision. en-us Tue, 16 Feb 2016 00:00:00 +0530 Tue, 01 Mar 2016 11:41:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272210 The Tribunal quashed the revision order passed by the Commissioner under Section 263 of the Income Tax Act, holding that the Commissioner erred in exercising his revision powers. The Tribunal allowed the appeal, emphasizing that the Assessing Officer's decision was well-considered and not erroneous or prejudicial to the revenue's interest. The Tribunal highlighted that the Commissioner's initiation of revision proceedings while the matter was pending before the CIT(A) was improper, citing relevant case law to support its decision. Case-Laws Income Tax Tue, 16 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272210