https://www.taxtmi.com/caselaws?id=425042 Revision under section 263 was unwarranted where the Assessing Officer had examined the assessee's documents and confirmations for cash payments and accepted the claim that they fell within Rule 6DD(e)(ii). The Tribunal treated the parties as milk producers, noted exceptional circumstances and only limited cash payment, and held that the assessment was made after inquiry on a plausible view. In those circumstances, the assessment order could not be branded erroneous merely because the Principal Commissioner preferred a different view, including reliance on Explanation 2(a). The Gujarat HC therefore upheld the view that the order was not liable to revision for alleged lack of inquiry. en-us Mon, 13 Jun 2022 00:00:00 +0530 Wed, 13 Jul 2022 21:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425042 Revision under section 263 was unwarranted where the Assessing Officer had examined the assessee's documents and confirmations for cash payments and accepted the claim that they fell within Rule 6DD(e)(ii). The Tribunal treated the parties as milk producers, noted exceptional circumstances and only limited cash payment, and held that the assessment was made after inquiry on a plausible view. In those circumstances, the assessment order could not be branded erroneous merely because the Principal Commissioner preferred a different view, including reliance on Explanation 2(a). The Gujarat HC therefore upheld the view that the order was not liable to revision for alleged lack of inquiry. Case-Laws Income Tax Mon, 13 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425042