https://www.taxtmi.com/caselaws?id=326059 The High Court upheld the Tribunal's order in an appeal by Revenue against the Commissioner's decision under Section 263 of the Income Tax Act, 1961. The Court found that the Assessing Officer had properly considered the issues regarding Foreign Currency Convertible Bonds (FCCBs) and mark to market losses, and the Commissioner's revision was not justified. Emphasizing that the Tribunal's decision was fact-based and not perverse, the Court dismissed the appeal, stating it did not raise substantial legal questions and amounted to impermissible reevaluation of factual evidence. en-us Mon, 28 Mar 2016 00:00:00 +0530 Tue, 14 Jul 2026 11:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326059 The High Court upheld the Tribunal's order in an appeal by Revenue against the Commissioner's decision under Section 263 of the Income Tax Act, 1961. The Court found that the Assessing Officer had properly considered the issues regarding Foreign Currency Convertible Bonds (FCCBs) and mark to market losses, and the Commissioner's revision was not justified. Emphasizing that the Tribunal's decision was fact-based and not perverse, the Court dismissed the appeal, stating it did not raise substantial legal questions and amounted to impermissible reevaluation of factual evidence. Case-Laws Income Tax Mon, 28 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326059