https://www.taxtmi.com/caselaws?id=421843 The Tribunal allowed the appeal of the assessee, setting aside the order passed by the Principal Commissioner of Income Tax under section 263. The Tribunal found that the Assessing Officer had conducted proper verifications and inquiries during the assessment proceedings, and the order under section 143(3) was not erroneous or prejudicial to the revenue's interests. As per established case law principles, mere differences in opinion do not warrant revision under section 263. Consequently, the PCIT's order was deemed unreasonable, and the appeal was allowed in favor of the assessee. en-us Wed, 27 Apr 2022 00:00:00 +0530 Tue, 03 May 2022 08:23:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421843 The Tribunal allowed the appeal of the assessee, setting aside the order passed by the Principal Commissioner of Income Tax under section 263. The Tribunal found that the Assessing Officer had conducted proper verifications and inquiries during the assessment proceedings, and the order under section 143(3) was not erroneous or prejudicial to the revenue's interests. As per established case law principles, mere differences in opinion do not warrant revision under section 263. Consequently, the PCIT's order was deemed unreasonable, and the appeal was allowed in favor of the assessee. Case-Laws Income Tax Wed, 27 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421843