https://www.taxtmi.com/caselaws?id=310265 The Tribunal ruled in favor of the assessee, holding that the revisionary order under Section 263 of the Income Tax Act was not justified. It found the purchase and commission expenses claimed were genuine, supported by proper documentation and banking transactions. The Tribunal upheld the validity of the original assessment order under Section 143(3), emphasizing that the Assessing Officer had conducted thorough investigations and made a reasonable decision. The appeal was allowed, setting aside the revisionary order and affirming the original assessment as valid and not prejudicial to revenue interests. en-us Tue, 11 Oct 2022 00:00:00 +0530 Sun, 15 Oct 2023 15:33:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=310265 The Tribunal ruled in favor of the assessee, holding that the revisionary order under Section 263 of the Income Tax Act was not justified. It found the purchase and commission expenses claimed were genuine, supported by proper documentation and banking transactions. The Tribunal upheld the validity of the original assessment order under Section 143(3), emphasizing that the Assessing Officer had conducted thorough investigations and made a reasonable decision. The appeal was allowed, setting aside the revisionary order and affirming the original assessment as valid and not prejudicial to revenue interests. Case-Laws Income Tax Tue, 11 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=310265