https://www.taxtmi.com/caselaws?id=306662 The Tribunal upheld the revision order by the CIT under section 263 of the Act, finding the original assessment order erroneous and prejudicial to the Revenue's interests. The Assessing Officer failed to adequately consider evidence supporting the conversion of commercial properties into residential ones for deduction under section 54F. The appeal by the assessee was dismissed, emphasizing the lack of conclusive evidence on the conversion, leading to the affirmation of the revision order. en-us Fri, 13 Jul 2012 00:00:00 +0530 Fri, 17 Feb 2023 10:41:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306662 The Tribunal upheld the revision order by the CIT under section 263 of the Act, finding the original assessment order erroneous and prejudicial to the Revenue's interests. The Assessing Officer failed to adequately consider evidence supporting the conversion of commercial properties into residential ones for deduction under section 54F. The appeal by the assessee was dismissed, emphasizing the lack of conclusive evidence on the conversion, leading to the affirmation of the revision order. Case-Laws Income Tax Fri, 13 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306662