https://www.taxtmi.com/caselaws?id=432376 The Tribunal ruled in favor of the assessee, quashing the ld. Pr.CIT's order under section 263 of the Act. It held that the ld. Pr.CIT's attempt to override the AO's findings was impermissible in revisionary proceedings, as the AO had already examined the relevant aspects during the original assessment. The Tribunal emphasized that the ld. Pr.CIT's direction for reassessment based on unexplained investment was unwarranted, ultimately allowing the appeal and ruling against the revision. en-us Mon, 19 Dec 2022 00:00:00 +0530 Wed, 04 Jan 2023 08:30:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432376 The Tribunal ruled in favor of the assessee, quashing the ld. Pr.CIT's order under section 263 of the Act. It held that the ld. Pr.CIT's attempt to override the AO's findings was impermissible in revisionary proceedings, as the AO had already examined the relevant aspects during the original assessment. The Tribunal emphasized that the ld. Pr.CIT's direction for reassessment based on unexplained investment was unwarranted, ultimately allowing the appeal and ruling against the revision. Case-Laws Income Tax Mon, 19 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432376