https://www.taxtmi.com/highlights?id=62756 Revision u/s 263 - The fact remains that the specific issue raised, in the revision order was specifically looked into, detailed submissions were made and these submissions were duly accepted by the AO. Merely because the Assessing Officer did not write specific reasons for accepting the explanation of the assessee cannot be reason enough to invoke powers under section 263, and non-mentioning of these reasons do not render the assessment order “erroneous and prejudicial to the interest of the revenue. - AT en-us Mon, 04 Apr 2022 14:22:47 +0530 Mon, 04 Apr 2022 14:22:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=62756 Revision u/s 263 - The fact remains that the specific issue raised, in the revision order was specifically looked into, detailed submissions were made and these submissions were duly accepted by the AO. Merely because the Assessing Officer did not write specific reasons for accepting the explanation of the assessee cannot be reason enough to invoke powers under section 263, and non-mentioning of these reasons do not render the assessment order “erroneous and prejudicial to the interest of the revenue. - AT Highlights Income Tax Mon, 04 Apr 2022 14:22:47 +0530 https://www.taxtmi.com/highlights?id=62756