https://www.taxtmi.com/caselaws?id=346137 The Court dismissed the appeal, emphasizing that revision under Section 263 of the Income Tax Act is impermissible when two debatable views exist. The Tribunal's decision to set aside the Commissioner's order was upheld, highlighting the necessity for thorough assessment procedures and adherence to legal principles. The judgment clarified that revisionary powers should not be exercised solely based on a different view by the Commissioner, emphasizing the importance of a clear rationale for invoking revisional jurisdiction. The Court did not make any findings on the applicability of Section 35D or the Tribunal's observations on the exercise of revisional powers. en-us Tue, 01 Aug 2017 00:00:00 +0530 Fri, 04 Aug 2017 11:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346137 The Court dismissed the appeal, emphasizing that revision under Section 263 of the Income Tax Act is impermissible when two debatable views exist. The Tribunal's decision to set aside the Commissioner's order was upheld, highlighting the necessity for thorough assessment procedures and adherence to legal principles. The judgment clarified that revisionary powers should not be exercised solely based on a different view by the Commissioner, emphasizing the importance of a clear rationale for invoking revisional jurisdiction. The Court did not make any findings on the applicability of Section 35D or the Tribunal's observations on the exercise of revisional powers. Case-Laws Income Tax Tue, 01 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346137