https://www.taxtmi.com/caselaws?id=306936 The Tribunal set aside the Pr. Commissioner's order under section 263 of the IT Act, favoring the assessee. The Tribunal found the Pr. Commissioner's actions lacked substantial grounds and had unsustainable reasoning in revising the assessment order. Specifically, the Tribunal deemed the Pr. Commissioner's orders on expenses under hiring charges of machinery, capital contribution by partners, low withdrawals by partners, and cash deposits in bank accounts as invalid due to insufficient evidence of errors or discrepancies. The Tribunal's decision favored the assessee, highlighting inconsistencies in the Pr. Commissioner's actions and lack of proper grounds for revision. en-us Fri, 14 Jun 2019 00:00:00 +0530 Tue, 07 Mar 2023 00:20:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306936 The Tribunal set aside the Pr. Commissioner's order under section 263 of the IT Act, favoring the assessee. The Tribunal found the Pr. Commissioner's actions lacked substantial grounds and had unsustainable reasoning in revising the assessment order. Specifically, the Tribunal deemed the Pr. Commissioner's orders on expenses under hiring charges of machinery, capital contribution by partners, low withdrawals by partners, and cash deposits in bank accounts as invalid due to insufficient evidence of errors or discrepancies. The Tribunal's decision favored the assessee, highlighting inconsistencies in the Pr. Commissioner's actions and lack of proper grounds for revision. Case-Laws Income Tax Fri, 14 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306936