https://www.taxtmi.com/caselaws?id=414142 The Tribunal quashed the revisional order under Section 263 of the Income Tax Act, allowing the appeal of the assessee. It emphasized that the conditions of the order being erroneous and prejudicial to the Revenue's interest were not met. The Tribunal also noted that the classification of assets and determination of income nature are debatable issues, and the AO's view could not be deemed erroneous in this case. en-us Thu, 14 Oct 2021 00:00:00 +0530 Thu, 28 Oct 2021 12:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414142 The Tribunal quashed the revisional order under Section 263 of the Income Tax Act, allowing the appeal of the assessee. It emphasized that the conditions of the order being erroneous and prejudicial to the Revenue's interest were not met. The Tribunal also noted that the classification of assets and determination of income nature are debatable issues, and the AO's view could not be deemed erroneous in this case. Case-Laws Income Tax Thu, 14 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414142