https://www.taxtmi.com/caselaws?id=424316 The Tribunal allowed the appeal of the assessee, quashing the revision order under Section 263. It held that the CIT's invocation of Section 263 was unjustified, as the original assessment order was based on a thorough examination of evidence and was not erroneous or prejudicial to the interest of the Revenue. The Tribunal emphasized the principle of equality of law, noting that the differential treatment of co-owners in similar circumstances was improper. The appeal was allowed, and the order for a fresh assessment was set aside. en-us Fri, 24 Jun 2022 00:00:00 +0530 Mon, 27 Jun 2022 10:25:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424316 The Tribunal allowed the appeal of the assessee, quashing the revision order under Section 263. It held that the CIT's invocation of Section 263 was unjustified, as the original assessment order was based on a thorough examination of evidence and was not erroneous or prejudicial to the interest of the Revenue. The Tribunal emphasized the principle of equality of law, noting that the differential treatment of co-owners in similar circumstances was improper. The appeal was allowed, and the order for a fresh assessment was set aside. Case-Laws Income Tax Fri, 24 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424316