https://www.taxtmi.com/caselaws?id=759587 Gujarat HC quashed orders under sections 154 and 264, remanding the matter to Principal Commissioner. The court held that Commissioner must consider revision petitions on merits when assessee chooses revision over appeal. The opening balance addition under section 68 in best judgment assessment was deemed a mistake apparent on record. Commissioner failed to properly examine the section 144A order as part of the record while deciding the section 264 revision petition, requiring fresh consideration on merits. en-us Mon, 23 Sep 2024 00:00:00 +0530 Sat, 30 Nov 2024 12:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759587 Gujarat HC quashed orders under sections 154 and 264, remanding the matter to Principal Commissioner. The court held that Commissioner must consider revision petitions on merits when assessee chooses revision over appeal. The opening balance addition under section 68 in best judgment assessment was deemed a mistake apparent on record. Commissioner failed to properly examine the section 144A order as part of the record while deciding the section 264 revision petition, requiring fresh consideration on merits. Case-Laws Income Tax Mon, 23 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759587