https://www.taxtmi.com/caselaws?id=426666 The Tribunal ruled in favor of the assessee, quashing the revision order passed by the Principal Commissioner of Income Tax under section 263 of the Income-tax Act. The Tribunal found that the valuation discrepancies between the sale consideration and the guideline value set by the stamp valuation authority did not render the assessment erroneous. The PCIT's failure to provide valid reasons for setting aside the assessment order led to the decision in favor of the assessee, upholding the original assessment for the relevant assessment year. en-us Fri, 29 Jul 2022 00:00:00 +0530 Mon, 22 Aug 2022 14:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426666 The Tribunal ruled in favor of the assessee, quashing the revision order passed by the Principal Commissioner of Income Tax under section 263 of the Income-tax Act. The Tribunal found that the valuation discrepancies between the sale consideration and the guideline value set by the stamp valuation authority did not render the assessment erroneous. The PCIT's failure to provide valid reasons for setting aside the assessment order led to the decision in favor of the assessee, upholding the original assessment for the relevant assessment year. Case-Laws Income Tax Fri, 29 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426666