https://www.taxtmi.com/caselaws?id=338895 The Tribunal held that the Commissioner's invocation of Section 263 was unjustified as the Assessing Officer (AO) had addressed all issues raised and the assessee had provided detailed explanations. Referring to precedent, the Tribunal ruled that as long as the AO's decision was reasonable, the assessment order could not be considered erroneous or prejudicial to Revenue. Consequently, the Tribunal set aside the Section 263 proceedings and upheld the original assessment order, ruling in favor of the assessee. en-us Wed, 08 Feb 2017 00:00:00 +0530 Tue, 14 Feb 2017 08:48:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=338895 The Tribunal held that the Commissioner's invocation of Section 263 was unjustified as the Assessing Officer (AO) had addressed all issues raised and the assessee had provided detailed explanations. Referring to precedent, the Tribunal ruled that as long as the AO's decision was reasonable, the assessment order could not be considered erroneous or prejudicial to Revenue. Consequently, the Tribunal set aside the Section 263 proceedings and upheld the original assessment order, ruling in favor of the assessee. Case-Laws Income Tax Wed, 08 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=338895