https://www.taxtmi.com/caselaws?id=429758 The Tribunal set aside the Principal Commissioner of Income-tax's decision to revise the assessment order under section 263, as the valid revised return filed by the assessee replaced the original return for assessment purposes. The High Court emphasized that only the revised return should be considered for assessment, rendering the assessment order based on the original return incorrect. The Tribunal's ruling in favor of the assessee underscored the significance of a valid revised return in assessment proceedings, following established legal precedents. en-us Thu, 20 Oct 2022 00:00:00 +0530 Thu, 03 Nov 2022 10:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429758 The Tribunal set aside the Principal Commissioner of Income-tax's decision to revise the assessment order under section 263, as the valid revised return filed by the assessee replaced the original return for assessment purposes. The High Court emphasized that only the revised return should be considered for assessment, rendering the assessment order based on the original return incorrect. The Tribunal's ruling in favor of the assessee underscored the significance of a valid revised return in assessment proceedings, following established legal precedents. Case-Laws Income Tax Thu, 20 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429758