https://www.taxtmi.com/caselaws?id=194080 The Tribunal ruled in favor of the assessee, quashing the orders under Section 263 of the Income Tax Act. It held that the Principal CIT lacked jurisdiction to revise the assessment order as the matter had already been decided in appeal. The Tribunal emphasized that the addition made by the AO was based on presumption without concrete evidence, and the seized documents were not admissible as they did not directly implicate the assessee. The decision aligned with past judgments, ensuring the dismissal of the Section 263 proceedings. en-us Fri, 29 Apr 2016 00:00:00 +0530 Tue, 29 Aug 2017 09:40:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=194080 The Tribunal ruled in favor of the assessee, quashing the orders under Section 263 of the Income Tax Act. It held that the Principal CIT lacked jurisdiction to revise the assessment order as the matter had already been decided in appeal. The Tribunal emphasized that the addition made by the AO was based on presumption without concrete evidence, and the seized documents were not admissible as they did not directly implicate the assessee. The decision aligned with past judgments, ensuring the dismissal of the Section 263 proceedings. Case-Laws Income Tax Fri, 29 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=194080