https://www.taxtmi.com/caselaws?id=460794 A revision under section 263 of the Income-tax Act was found unsustainable where the assessee had furnished complete details and supporting material for the impugned receipt and payment, and those explanations were not shown to be incorrect or deficient. Once the material prima facie established the genuineness of the transactions, the Principal Commissioner could not invoke revision merely to require a fresh or roving inquiry by the Assessing Officer. The revisionary order was therefore quashed, and the assessee succeeded. en-us Mon, 16 Mar 2020 00:00:00 +0530 Thu, 20 Feb 2025 18:59:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=460794 A revision under section 263 of the Income-tax Act was found unsustainable where the assessee had furnished complete details and supporting material for the impugned receipt and payment, and those explanations were not shown to be incorrect or deficient. Once the material prima facie established the genuineness of the transactions, the Principal Commissioner could not invoke revision merely to require a fresh or roving inquiry by the Assessing Officer. The revisionary order was therefore quashed, and the assessee succeeded. Case-Laws Income Tax Mon, 16 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=460794