https://www.taxtmi.com/caselaws?id=336306 The Tribunal allowed the appeal of the assessee, setting aside the revision order passed by the Principal Commissioner of Income Tax (Pr. CIT) and restoring the assessment order passed under Section 143(3) of the Income Tax Act, 1961. The Tribunal held that the Pr. CIT's order was based on a mere change of opinion and did not meet the criteria to invoke Section 263. Additionally, the Tribunal agreed with the assessee's argument on the applicability of Section 45(2), supporting the validity of the assessment order. en-us Fri, 09 Dec 2016 00:00:00 +0530 Mon, 19 Dec 2016 13:31:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=336306 The Tribunal allowed the appeal of the assessee, setting aside the revision order passed by the Principal Commissioner of Income Tax (Pr. CIT) and restoring the assessment order passed under Section 143(3) of the Income Tax Act, 1961. The Tribunal held that the Pr. CIT's order was based on a mere change of opinion and did not meet the criteria to invoke Section 263. Additionally, the Tribunal agreed with the assessee's argument on the applicability of Section 45(2), supporting the validity of the assessment order. Case-Laws Income Tax Fri, 09 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=336306