https://www.taxtmi.com/caselaws?id=415959 The appellate tribunal overturned the revisionary order under section 263 of the Income Tax Act, finding that the Assessing Officer had reasonably assessed alleged bogus purchases based on precedents. The tribunal held that the Principal Commissioner of Income Tax's decision to set aside the assessment order was incorrect and restored the original assessment, ultimately ruling in favor of the assessee. en-us Mon, 22 Nov 2021 00:00:00 +0530 Fri, 17 Dec 2021 10:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=415959 The appellate tribunal overturned the revisionary order under section 263 of the Income Tax Act, finding that the Assessing Officer had reasonably assessed alleged bogus purchases based on precedents. The tribunal held that the Principal Commissioner of Income Tax's decision to set aside the assessment order was incorrect and restored the original assessment, ultimately ruling in favor of the assessee. Case-Laws Income Tax Mon, 22 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=415959