https://www.taxtmi.com/caselaws?id=425527 The Tribunal found that the order under section 263 passed by the Principal Commissioner of Income Tax was unjustified as the original assessment was deemed proper and not prejudicial to the Revenue's interest. The Tribunal quashed the section 263 order and allowed the appeal, emphasizing that proper verification and enquiry had been conducted. The decision was based on the lack of material facts supporting the need for revisionary action under section 263. en-us Wed, 13 Jul 2022 00:00:00 +0530 Mon, 25 Jul 2022 18:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425527 The Tribunal found that the order under section 263 passed by the Principal Commissioner of Income Tax was unjustified as the original assessment was deemed proper and not prejudicial to the Revenue's interest. The Tribunal quashed the section 263 order and allowed the appeal, emphasizing that proper verification and enquiry had been conducted. The decision was based on the lack of material facts supporting the need for revisionary action under section 263. Case-Laws Income Tax Wed, 13 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425527