https://www.taxtmi.com/caselaws?id=396229 The Tribunal quashed the revisionary order under Section 263 of the Income Tax Act, allowing the assessee's appeal. It held that the Assessing Officer's inquiries were adequate, and the original assessment order was not erroneous or prejudicial to revenue. The Tribunal emphasized that the Principal Commissioner lacked justification for invoking Section 263, as the AO had conducted thorough inquiries and taken a reasonable stance on commission payments' allowability. en-us Wed, 18 Mar 2020 00:00:00 +0530 Fri, 26 Jun 2020 09:16:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396229 The Tribunal quashed the revisionary order under Section 263 of the Income Tax Act, allowing the assessee's appeal. It held that the Assessing Officer's inquiries were adequate, and the original assessment order was not erroneous or prejudicial to revenue. The Tribunal emphasized that the Principal Commissioner lacked justification for invoking Section 263, as the AO had conducted thorough inquiries and taken a reasonable stance on commission payments' allowability. Case-Laws Income Tax Wed, 18 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396229