https://www.taxtmi.com/caselaws?id=426983 The Tribunal quashed the revision order passed by the Principal Commissioner of Income Tax (PCIT) under Section 263, upholding the reassessment order by the Assessing Officer (AO). The appeal filed by the assessee was allowed, confirming that the agricultural income claimed as exempt under Section 10(2A) was legitimate and the reassessment proceedings were validly conducted. The detailed inquiries and evidence provided by the assessee supported the claim, leading to the Tribunal deeming the PCIT's revision proceedings unjustifiable and beyond jurisdiction. en-us Fri, 26 Aug 2022 00:00:00 +0530 Tue, 30 Aug 2022 10:10:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426983 The Tribunal quashed the revision order passed by the Principal Commissioner of Income Tax (PCIT) under Section 263, upholding the reassessment order by the Assessing Officer (AO). The appeal filed by the assessee was allowed, confirming that the agricultural income claimed as exempt under Section 10(2A) was legitimate and the reassessment proceedings were validly conducted. The detailed inquiries and evidence provided by the assessee supported the claim, leading to the Tribunal deeming the PCIT's revision proceedings unjustifiable and beyond jurisdiction. Case-Laws Income Tax Fri, 26 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426983