https://www.taxtmi.com/caselaws?id=328181 ITAT MUMBAI - AT set aside the Pr. CIT's revision under s.263, holding the AO's assessments were a plausible exercise of discretion and not perverse. The tribunal found the incriminating document's entries were debatable, lacked verification linking amounts to the assessee or showing they constituted assessable income, and the Pr. CIT produced no supporting material. The revision was characterized as fishing and roving inquiries and therefore unjustified; decision rendered in favour of the assessee. en-us Fri, 06 May 2016 00:00:00 +0530 Mon, 22 Sep 2025 11:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328181 ITAT MUMBAI - AT set aside the Pr. CIT's revision under s.263, holding the AO's assessments were a plausible exercise of discretion and not perverse. The tribunal found the incriminating document's entries were debatable, lacked verification linking amounts to the assessee or showing they constituted assessable income, and the Pr. CIT produced no supporting material. The revision was characterized as fishing and roving inquiries and therefore unjustified; decision rendered in favour of the assessee. Case-Laws Income Tax Fri, 06 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328181