https://www.taxtmi.com/caselaws?id=381908 The Tribunal upheld the Principal Commissioner's decision to revise the assessment order under section 263 of the Income Tax Act due to the failure to examine the applicability of section 56(2)(vii)(b)(ii) during the initial assessment proceedings. The Tribunal dismissed the appeal, directing a fresh assessment to be conducted, providing the assessee with an opportunity to present their case and ensuring a well-reasoned decision. en-us Fri, 24 May 2019 00:00:00 +0530 Thu, 20 Jun 2019 18:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381908 The Tribunal upheld the Principal Commissioner's decision to revise the assessment order under section 263 of the Income Tax Act due to the failure to examine the applicability of section 56(2)(vii)(b)(ii) during the initial assessment proceedings. The Tribunal dismissed the appeal, directing a fresh assessment to be conducted, providing the assessee with an opportunity to present their case and ensuring a well-reasoned decision. Case-Laws Income Tax Fri, 24 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381908