https://www.taxtmi.com/caselaws?id=329966 The Tribunal quashed the orders passed by the Commissioner of Income Tax (CIT) under Section 263 for all the assessment years, holding that the CIT lacked jurisdiction to revise the assessment orders. The Tribunal found that the Assessing Officer (AO) had accurately examined and computed the 'on money' transactions based on seized documents. Emphasizing the importance of providing a fair opportunity to the assessee and maintaining consistency in the application of law, the Tribunal allowed all five appeals filed by the assessee. en-us Fri, 08 Jul 2016 00:00:00 +0530 Thu, 14 Jul 2016 11:41:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329966 The Tribunal quashed the orders passed by the Commissioner of Income Tax (CIT) under Section 263 for all the assessment years, holding that the CIT lacked jurisdiction to revise the assessment orders. The Tribunal found that the Assessing Officer (AO) had accurately examined and computed the 'on money' transactions based on seized documents. Emphasizing the importance of providing a fair opportunity to the assessee and maintaining consistency in the application of law, the Tribunal allowed all five appeals filed by the assessee. Case-Laws Income Tax Fri, 08 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329966