https://www.taxtmi.com/caselaws?id=774185 The ITAT Delhi allowed the assessee's appeal against revision proceedings under section 263. The case involved reassessment under section 147 where additions were made for unexplained cash credits from five companies under section 68, with adhoc commission estimation at 2%. The tribunal held that no error could be attributed to the reassessment order regarding non-verification of amounts from one company, as these amounts were already reflected in the balance sheet and regular return. Any error would relate to the original intimation under section 143(1), not the reassessment order. Following Supreme Court precedent, the tribunal concluded that twin conditions for section 263 revision were not satisfied. en-us Mon, 30 Jun 2025 00:00:00 +0530 Fri, 04 Jul 2025 08:38:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=774185 The ITAT Delhi allowed the assessee's appeal against revision proceedings under section 263. The case involved reassessment under section 147 where additions were made for unexplained cash credits from five companies under section 68, with adhoc commission estimation at 2%. The tribunal held that no error could be attributed to the reassessment order regarding non-verification of amounts from one company, as these amounts were already reflected in the balance sheet and regular return. Any error would relate to the original intimation under section 143(1), not the reassessment order. Following Supreme Court precedent, the tribunal concluded that twin conditions for section 263 revision were not satisfied. Case-Laws Income Tax Mon, 30 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=774185