https://www.taxtmi.com/caselaws?id=437136 The Tribunal held that the order under Section 263 was not sustainable as the assessment order was not found to be erroneous and prejudicial to the Revenue's interests. The Assessee's appeal was dismissed, emphasizing that the AO's actions were satisfactory and based on facts. The Tribunal found that the expenses claimed were correctly credited, and the application of Section 115BBE was not warranted as the undisclosed income was appropriately assessed. The decision highlighted that differing views between the AO and Pr.CIT do not render the assessment order erroneous when both views are legally plausible. en-us Tue, 28 Mar 2023 00:00:00 +0530 Thu, 27 Apr 2023 17:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=437136 The Tribunal held that the order under Section 263 was not sustainable as the assessment order was not found to be erroneous and prejudicial to the Revenue's interests. The Assessee's appeal was dismissed, emphasizing that the AO's actions were satisfactory and based on facts. The Tribunal found that the expenses claimed were correctly credited, and the application of Section 115BBE was not warranted as the undisclosed income was appropriately assessed. The decision highlighted that differing views between the AO and Pr.CIT do not render the assessment order erroneous when both views are legally plausible. Case-Laws Income Tax Tue, 28 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=437136