https://www.taxtmi.com/caselaws?id=302426 The Tribunal allowed the appeal of the assessee, quashing the order under section 263 of the Income Tax Act. It held that the original assessment order under section 153A was not erroneous as no incriminating material was found during the search to justify revisions based on Sec.50C for capital gain computation. The Tribunal concluded that the Assessing Officer did not err in the assessment, and therefore, the revision under section 263 was not valid. en-us Tue, 22 Feb 2022 00:00:00 +0530 Wed, 25 May 2022 12:47:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=302426 The Tribunal allowed the appeal of the assessee, quashing the order under section 263 of the Income Tax Act. It held that the original assessment order under section 153A was not erroneous as no incriminating material was found during the search to justify revisions based on Sec.50C for capital gain computation. The Tribunal concluded that the Assessing Officer did not err in the assessment, and therefore, the revision under section 263 was not valid. Case-Laws Income Tax Tue, 22 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=302426