https://www.taxtmi.com/caselaws?id=377958 The Tribunal held that the Commissioner of Income-tax (CIT) erred in invoking revisionary jurisdiction under Section 263 of the Income-tax Act, 1961, as the Assessing Officer (AO) had already thoroughly examined the conversion charges and job work payments. The Tribunal quashed the CIT's revision order, emphasizing that the CIT cannot substitute his opinion for the AO's findings if the AO has adequately considered the relevant facts. The appeal by the assessee was allowed, highlighting the importance of respecting the AO's well-reasoned conclusions in such matters. en-us Wed, 09 Jan 2019 00:00:00 +0530 Fri, 05 Apr 2019 10:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377958 The Tribunal held that the Commissioner of Income-tax (CIT) erred in invoking revisionary jurisdiction under Section 263 of the Income-tax Act, 1961, as the Assessing Officer (AO) had already thoroughly examined the conversion charges and job work payments. The Tribunal quashed the CIT's revision order, emphasizing that the CIT cannot substitute his opinion for the AO's findings if the AO has adequately considered the relevant facts. The appeal by the assessee was allowed, highlighting the importance of respecting the AO's well-reasoned conclusions in such matters. Case-Laws Income Tax Wed, 09 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377958