https://www.taxtmi.com/caselaws?id=403087 The tribunal quashed the Principal Commissioner of Income Tax's revision order under Section 263, holding it to be bad in law. The appeal of the assessee was allowed, confirming that the Assessing Officer's assessment order was neither erroneous nor prejudicial to the interest of the revenue. The tribunal emphasized that the AO had conducted a proper enquiry and accepted the assessee's claim based on a plausible view supported by judicial precedents. en-us Tue, 12 Jan 2021 00:00:00 +0530 Mon, 18 Jan 2021 21:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403087 The tribunal quashed the Principal Commissioner of Income Tax's revision order under Section 263, holding it to be bad in law. The appeal of the assessee was allowed, confirming that the Assessing Officer's assessment order was neither erroneous nor prejudicial to the interest of the revenue. The tribunal emphasized that the AO had conducted a proper enquiry and accepted the assessee's claim based on a plausible view supported by judicial precedents. Case-Laws Income Tax Tue, 12 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403087