https://www.taxtmi.com/caselaws?id=409449 The court overturned the Commissioner's order under section 263 of the Income-tax Act, citing a lack of evidence to show that the acceptance of the assessee's claims resulted in an erroneous order prejudicial to revenue. The judgment stressed the importance of demonstrating specific errors in the assessment process to warrant revision. The Assessing Officer had conducted adequate enquiries, and the assessee had provided satisfactory responses, refuting the Commissioner's claim of insufficient enquiry. The decision highlighted the need for concrete evidence of errors or fallacies to justify revision under section 263. en-us Tue, 06 Jul 2021 00:00:00 +0530 Thu, 08 Jul 2021 08:46:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409449 The court overturned the Commissioner's order under section 263 of the Income-tax Act, citing a lack of evidence to show that the acceptance of the assessee's claims resulted in an erroneous order prejudicial to revenue. The judgment stressed the importance of demonstrating specific errors in the assessment process to warrant revision. The Assessing Officer had conducted adequate enquiries, and the assessee had provided satisfactory responses, refuting the Commissioner's claim of insufficient enquiry. The decision highlighted the need for concrete evidence of errors or fallacies to justify revision under section 263. Case-Laws Income Tax Tue, 06 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409449