https://www.taxtmi.com/caselaws?id=406872 The revenue's appeal challenging the annulment of the assessment order under section 143(3) read with section 263 of the Income Tax Act, 1961 was dismissed. Allegations of furnishing inaccurate particulars, unusual expenditures, and questionable transactions by the assessee were considered. The validity of revisionary proceedings under section 263 was scrutinized, leading to the annulment of the reassessment order. The Tribunal upheld the decision to set aside the revision order, emphasizing the invalidity of the revisionary proceedings and the consequential order passed by the Principal Commissioner of Income Tax. en-us Thu, 18 Mar 2021 00:00:00 +0530 Mon, 26 Apr 2021 10:19:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406872 The revenue's appeal challenging the annulment of the assessment order under section 143(3) read with section 263 of the Income Tax Act, 1961 was dismissed. Allegations of furnishing inaccurate particulars, unusual expenditures, and questionable transactions by the assessee were considered. The validity of revisionary proceedings under section 263 was scrutinized, leading to the annulment of the reassessment order. The Tribunal upheld the decision to set aside the revision order, emphasizing the invalidity of the revisionary proceedings and the consequential order passed by the Principal Commissioner of Income Tax. Case-Laws Income Tax Thu, 18 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406872