https://www.taxtmi.com/caselaws?id=448255 The Assessing Officer made detailed enquiries into the assessee's treaty exemption claim on long-term capital gains from shares acquired before 1 April 2017, including the tax residency certificate, share purchase documents, valuation report, and transaction particulars, and accepted the claim on the basis of grandfathered protection under the India-Mauritius tax treaty and CBDT clarification. As the assessment order was passed after enquiry and reflected a plausible legal view, the revisionary authority could not invoke section 263 merely because further enquiry was considered desirable. The revisionary order was therefore unsustainable and was set aside. en-us Thu, 11 Jan 2024 00:00:00 +0530 Mon, 15 Jan 2024 09:06:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=448255 The Assessing Officer made detailed enquiries into the assessee's treaty exemption claim on long-term capital gains from shares acquired before 1 April 2017, including the tax residency certificate, share purchase documents, valuation report, and transaction particulars, and accepted the claim on the basis of grandfathered protection under the India-Mauritius tax treaty and CBDT clarification. As the assessment order was passed after enquiry and reflected a plausible legal view, the revisionary authority could not invoke section 263 merely because further enquiry was considered desirable. The revisionary order was therefore unsustainable and was set aside. Case-Laws Income Tax Thu, 11 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=448255