https://www.taxtmi.com/caselaws?id=381354 The Tribunal quashed the revisional order passed by the Principal Commissioner of Income Tax under Section 263, reinstating the original assessment order by the Assessing Officer under Section 143(3). The Tribunal found that the Assessing Officer had properly examined the capital gains transactions and the purchase of new flats, making a decision in accordance with established judicial precedents. The Tribunal emphasized that as long as the Assessing Officer's decision was legally sustainable, the revisional jurisdiction under Section 263 was not warranted. The appeal was partly allowed in favor of the assessee. en-us Thu, 06 Jun 2019 00:00:00 +0530 Sat, 08 Jun 2019 12:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381354 The Tribunal quashed the revisional order passed by the Principal Commissioner of Income Tax under Section 263, reinstating the original assessment order by the Assessing Officer under Section 143(3). The Tribunal found that the Assessing Officer had properly examined the capital gains transactions and the purchase of new flats, making a decision in accordance with established judicial precedents. The Tribunal emphasized that as long as the Assessing Officer's decision was legally sustainable, the revisional jurisdiction under Section 263 was not warranted. The appeal was partly allowed in favor of the assessee. Case-Laws Income Tax Thu, 06 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381354