https://www.taxtmi.com/caselaws?id=412079 HC held that the Principal Commissioner illegally invoked revisional powers under Section 263. Assessing Officer had fairly examined assessees' explanations for unaccounted/excess stock, treated the amounts as business income taxed at 30% rather than as income under Section 115BBE at 60%, and the AO's decision was not perverse or shown to be contrary to law. The Tribunal correctly set aside the revisional order, and the appeal against that decision was dismissed. en-us Mon, 02 Aug 2021 00:00:00 +0530 Tue, 02 Sep 2025 15:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412079 HC held that the Principal Commissioner illegally invoked revisional powers under Section 263. Assessing Officer had fairly examined assessees' explanations for unaccounted/excess stock, treated the amounts as business income taxed at 30% rather than as income under Section 115BBE at 60%, and the AO's decision was not perverse or shown to be contrary to law. The Tribunal correctly set aside the revisional order, and the appeal against that decision was dismissed. Case-Laws Income Tax Mon, 02 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412079