https://www.taxtmi.com/caselaws?id=339593 The Tribunal found that the CIT's revisionary orders under Section 263 were not justified as the Assessing Officer had conducted adequate enquiries and verifications during the original assessments. The original assessment orders were restored, and the appeals of both assessees were allowed. The Tribunal emphasized that an assessment order cannot be deemed erroneous and prejudicial to the revenue solely based on a disagreement with the AO's conclusions, especially when the AO acted within the permissible course of action under the law. en-us Mon, 27 Feb 2017 00:00:00 +0530 Wed, 01 Mar 2017 18:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339593 The Tribunal found that the CIT's revisionary orders under Section 263 were not justified as the Assessing Officer had conducted adequate enquiries and verifications during the original assessments. The original assessment orders were restored, and the appeals of both assessees were allowed. The Tribunal emphasized that an assessment order cannot be deemed erroneous and prejudicial to the revenue solely based on a disagreement with the AO's conclusions, especially when the AO acted within the permissible course of action under the law. Case-Laws Income Tax Mon, 27 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339593