https://www.taxtmi.com/caselaws?id=303426 The Tribunal quashed the order passed under section 263 by the Principal Commissioner of Income Tax (Pr. CIT), holding that the assessment order was not both erroneous and prejudicial to the interest of the Revenue. The Tribunal emphasized that the Assessing Officer had taken a plausible view supported by law, and disagreement with this view did not warrant invoking section 263. The appeal of the assessee was allowed. en-us Tue, 10 Dec 2019 00:00:00 +0530 Fri, 22 Jul 2022 09:15:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=303426 The Tribunal quashed the order passed under section 263 by the Principal Commissioner of Income Tax (Pr. CIT), holding that the assessment order was not both erroneous and prejudicial to the interest of the Revenue. The Tribunal emphasized that the Assessing Officer had taken a plausible view supported by law, and disagreement with this view did not warrant invoking section 263. The appeal of the assessee was allowed. Case-Laws Income Tax Tue, 10 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303426