https://www.taxtmi.com/caselaws?id=341423 The Income-tax Appellate Tribunal (ITAT) ruled that the assessment order by the Assessing Officer (AO) was not erroneous or prejudicial to Revenue's interests. The AO had adequately examined all relevant issues and chose to estimate net profit consciously. Consequently, the ITAT overturned the Commissioner of Income-tax's order under section 263 and reinstated the original assessment order, allowing the assessee's appeal. en-us Fri, 20 Jan 2017 00:00:00 +0530 Sat, 08 Apr 2017 07:33:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=341423 The Income-tax Appellate Tribunal (ITAT) ruled that the assessment order by the Assessing Officer (AO) was not erroneous or prejudicial to Revenue's interests. The AO had adequately examined all relevant issues and chose to estimate net profit consciously. Consequently, the ITAT overturned the Commissioner of Income-tax's order under section 263 and reinstated the original assessment order, allowing the assessee's appeal. Case-Laws Income Tax Fri, 20 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=341423