https://www.taxtmi.com/caselaws?id=429427 The Tribunal quashed the revisionary order passed by the Principal Commissioner of Income Tax under Section 263 of the Income-tax Act, 1961. It held that the original assessment order was not erroneous or prejudicial to the Revenue's interest. The Tribunal found that the Assessing Officer had adequately verified the necessary details during the assessment proceedings, including sundry creditors, other expenses, brokerage paid, and unsecured loans. Consequently, the appeal of the assessee was allowed. en-us Fri, 21 Oct 2022 00:00:00 +0530 Fri, 28 Oct 2022 09:16:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429427 The Tribunal quashed the revisionary order passed by the Principal Commissioner of Income Tax under Section 263 of the Income-tax Act, 1961. It held that the original assessment order was not erroneous or prejudicial to the Revenue's interest. The Tribunal found that the Assessing Officer had adequately verified the necessary details during the assessment proceedings, including sundry creditors, other expenses, brokerage paid, and unsecured loans. Consequently, the appeal of the assessee was allowed. Case-Laws Income Tax Fri, 21 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429427