https://www.taxtmi.com/caselaws?id=425600 The Tribunal held that the revision order under Section 263 by the Principal Commissioner of Income Tax was not legally sustainable as it amounted to a mere change in opinion. Consequently, the Tribunal set aside the Commissioner's order and allowed the appeal of the assessee, emphasizing that as long as the Assessing Officer's view is legally permissible, it cannot be deemed erroneous solely because the Commissioner holds a different opinion. The decision was rendered in open court, with the appeal being granted. en-us Mon, 25 Jul 2022 00:00:00 +0530 Wed, 27 Jul 2022 08:41:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425600 The Tribunal held that the revision order under Section 263 by the Principal Commissioner of Income Tax was not legally sustainable as it amounted to a mere change in opinion. Consequently, the Tribunal set aside the Commissioner's order and allowed the appeal of the assessee, emphasizing that as long as the Assessing Officer's view is legally permissible, it cannot be deemed erroneous solely because the Commissioner holds a different opinion. The decision was rendered in open court, with the appeal being granted. Case-Laws Income Tax Mon, 25 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425600