https://www.taxtmi.com/caselaws?id=408160 The Tribunal quashed the revision order under section 263 of the Income Tax Act, finding that the Principal Commissioner wrongly assumed an additional loan was squared up. The Tribunal held that the decision was based on incorrect assumptions, criticizing the Principal Commissioner for not reviewing details already on record. The appeal of the assessee, a partnership firm engaged in manufacturing and services, was allowed, with the judgment pronounced on 27/04/2021. en-us Tue, 27 Apr 2021 00:00:00 +0530 Wed, 02 Jun 2021 08:39:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408160 The Tribunal quashed the revision order under section 263 of the Income Tax Act, finding that the Principal Commissioner wrongly assumed an additional loan was squared up. The Tribunal held that the decision was based on incorrect assumptions, criticizing the Principal Commissioner for not reviewing details already on record. The appeal of the assessee, a partnership firm engaged in manufacturing and services, was allowed, with the judgment pronounced on 27/04/2021. Case-Laws Income Tax Tue, 27 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408160