https://www.taxtmi.com/caselaws?id=771203 The Tribunal reviewed an income tax case involving revisionary jurisdiction. It found that the Pr. CIT improperly set aside the Assessing Officer's (AO) assessment order without establishing perversity or illegality. The Tribunal held that the AO conducted adequate verification, applied proper mind in accepting the returned income, and the Pr. CIT could not substitute the AO's bona fide opinion. The revisionary order was quashed, and the original assessment was restored. en-us Fri, 28 Mar 2025 00:00:00 +0530 Thu, 22 May 2025 08:21:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771203 The Tribunal reviewed an income tax case involving revisionary jurisdiction. It found that the Pr. CIT improperly set aside the Assessing Officer's (AO) assessment order without establishing perversity or illegality. The Tribunal held that the AO conducted adequate verification, applied proper mind in accepting the returned income, and the Pr. CIT could not substitute the AO's bona fide opinion. The revisionary order was quashed, and the original assessment was restored. Case-Laws Income Tax Fri, 28 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771203