https://www.taxtmi.com/caselaws?id=419389 The Tribunal quashed the Commissioner of Income Tax (Exemptions)'s revision order under section 263 of the Income Tax Act, finding that the Assessing Officer had adequately examined the nature of investments in shares by the assessee. The Tribunal emphasized the importance of consistency in applying past decisions and ruled in favor of the assessee, concluding that there was no new evidence or legal basis to support the revisional jurisdiction invoked by the Commissioner. As a result, the Tribunal allowed the assessee's appeal and set aside the revision order. en-us Wed, 16 Feb 2022 00:00:00 +0530 Thu, 10 Mar 2022 08:19:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419389 The Tribunal quashed the Commissioner of Income Tax (Exemptions)'s revision order under section 263 of the Income Tax Act, finding that the Assessing Officer had adequately examined the nature of investments in shares by the assessee. The Tribunal emphasized the importance of consistency in applying past decisions and ruled in favor of the assessee, concluding that there was no new evidence or legal basis to support the revisional jurisdiction invoked by the Commissioner. As a result, the Tribunal allowed the assessee's appeal and set aside the revision order. Case-Laws Income Tax Wed, 16 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419389