https://www.taxtmi.com/caselaws?id=444468 The Tribunal allowed the appeal of the assessee, a medical practitioner, against the order of the ld. PCIT under section 263 of the Income Tax Act, 1961. The Tribunal found that the Assessing Officer (AO) had conducted necessary enquiries and accepted the explanation that the surrendered income during a survey was from the medical profession. The Tribunal determined there was no justification for the revisionary order, as the assessment was neither erroneous nor prejudicial to the interests of the Revenue, thus quashing the order under section 263. en-us Fri, 21 Jul 2023 00:00:00 +0530 Tue, 17 Oct 2023 08:37:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444468 The Tribunal allowed the appeal of the assessee, a medical practitioner, against the order of the ld. PCIT under section 263 of the Income Tax Act, 1961. The Tribunal found that the Assessing Officer (AO) had conducted necessary enquiries and accepted the explanation that the surrendered income during a survey was from the medical profession. The Tribunal determined there was no justification for the revisionary order, as the assessment was neither erroneous nor prejudicial to the interests of the Revenue, thus quashing the order under section 263. Case-Laws Income Tax Fri, 21 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444468