https://www.taxtmi.com/caselaws?id=346165 The appeal against the revision of an assessment order under section 263 of the Income Tax Act, 1961 was dismissed. The court upheld the CIT's decision to revise the order, bringing a specific sum of Rs. 74,19,860 to tax as the appellant failed to declare it as income. The CIT's exercise of revisionary powers was deemed justified, emphasizing the importance of examining all aspects for a correct assessment. The judgment highlighted the necessity of scrutinizing TDS credit claims to prevent erroneous assessments prejudicial to revenue interests. en-us Fri, 16 Dec 2016 00:00:00 +0530 Sat, 05 Aug 2017 07:32:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346165 The appeal against the revision of an assessment order under section 263 of the Income Tax Act, 1961 was dismissed. The court upheld the CIT's decision to revise the order, bringing a specific sum of Rs. 74,19,860 to tax as the appellant failed to declare it as income. The CIT's exercise of revisionary powers was deemed justified, emphasizing the importance of examining all aspects for a correct assessment. The judgment highlighted the necessity of scrutinizing TDS credit claims to prevent erroneous assessments prejudicial to revenue interests. Case-Laws Income Tax Fri, 16 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346165