https://www.taxtmi.com/caselaws?id=392040 The Tribunal found that the Assessing Officer (AO) had adequately enquired into the valuation of shares and accepted the valuation based on a Chartered Accountant's certificate, which was considered a plausible view. The Principal Commissioner of Income Tax's invocation of revisional jurisdiction under Section 263 was deemed unsustainable as the assessment order was not erroneous or prejudicial to revenue. Consequently, the Tribunal quashed the revision order and allowed the appeal of the assessee. en-us Wed, 20 Nov 2019 00:00:00 +0530 Wed, 12 Feb 2020 08:00:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392040 The Tribunal found that the Assessing Officer (AO) had adequately enquired into the valuation of shares and accepted the valuation based on a Chartered Accountant's certificate, which was considered a plausible view. The Principal Commissioner of Income Tax's invocation of revisional jurisdiction under Section 263 was deemed unsustainable as the assessment order was not erroneous or prejudicial to revenue. Consequently, the Tribunal quashed the revision order and allowed the appeal of the assessee. Case-Laws Income Tax Wed, 20 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392040