https://www.taxtmi.com/caselaws?id=771952 Tribunal resolved a tax dispute involving revisional powers under section 263 of Income Tax Act. After detailed analysis, the court held that the Commissioner's revision order was unjustified, as the Assessing Officer had conducted proper enquiry and taken a plausible view regarding utilization of accumulated surplus. The tribunal quashed the revision order, emphasizing that section 263 should be applied sparingly and only when an assessment is clearly erroneous. en-us Fri, 30 May 2025 00:00:00 +0530 Mon, 02 Jun 2025 08:34:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771952 Tribunal resolved a tax dispute involving revisional powers under section 263 of Income Tax Act. After detailed analysis, the court held that the Commissioner's revision order was unjustified, as the Assessing Officer had conducted proper enquiry and taken a plausible view regarding utilization of accumulated surplus. The tribunal quashed the revision order, emphasizing that section 263 should be applied sparingly and only when an assessment is clearly erroneous. Case-Laws Income Tax Fri, 30 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771952