https://www.taxtmi.com/caselaws?id=392909 The Court upheld the Tribunal's decision, dismissing the Revenue's appeal. It found that the Assessing Officer's acceptance of the assessee's revised return was reasonable, and the Principal Commissioner of Income Tax's intervention was unwarranted. The Court emphasized that when two plausible views exist, and the AO adopts one, the PCIT should not interfere. Therefore, the Tax Case (Appeal) was dismissed, and the Court ruled in favor of the assessee, affirming that the PCIT could not substitute the AO's lawful view. en-us Tue, 25 Feb 2020 00:00:00 +0530 Mon, 31 Aug 2020 16:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392909 The Court upheld the Tribunal's decision, dismissing the Revenue's appeal. It found that the Assessing Officer's acceptance of the assessee's revised return was reasonable, and the Principal Commissioner of Income Tax's intervention was unwarranted. The Court emphasized that when two plausible views exist, and the AO adopts one, the PCIT should not interfere. Therefore, the Tax Case (Appeal) was dismissed, and the Court ruled in favor of the assessee, affirming that the PCIT could not substitute the AO's lawful view. Case-Laws Income Tax Tue, 25 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392909