https://www.taxtmi.com/caselaws?id=413047 The appeals were filed by the Assessee against the order passed by the Ld. Principal Commissioner of Income Tax under section 263 of the Income Tax Act for the assessment years 2008-09 to 2010-11. The Tribunal ruled in favor of the Assessee, quashing the revisional order, as no incriminating material was found during the search and the assessments had already been finalized without any additions. The decision emphasized the necessity of valid grounds and incriminating material for revising assessments under section 263, aligning with established legal principles from various High Court precedents. en-us Tue, 28 Sep 2021 00:00:00 +0530 Mon, 04 Oct 2021 08:58:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=413047 The appeals were filed by the Assessee against the order passed by the Ld. Principal Commissioner of Income Tax under section 263 of the Income Tax Act for the assessment years 2008-09 to 2010-11. The Tribunal ruled in favor of the Assessee, quashing the revisional order, as no incriminating material was found during the search and the assessments had already been finalized without any additions. The decision emphasized the necessity of valid grounds and incriminating material for revising assessments under section 263, aligning with established legal principles from various High Court precedents. Case-Laws Income Tax Tue, 28 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=413047