https://www.taxtmi.com/caselaws?id=776110 The ITAT Mumbai held that an assessment order framed under section 147 read with section 144 of the Act, completed to the best of the AO's judgment, cannot be deemed erroneous or prejudicial to the revenue for the purpose of invoking revision under section 263. The AO's best judgment assessment under section 144 is absolute and cannot be substituted by the CIT(E)'s view. Consequently, the revision order passed by the CIT was set aside, and the assessee's appeal was allowed. en-us Wed, 23 Jul 2025 00:00:00 +0530 Tue, 05 Aug 2025 07:54:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=776110 The ITAT Mumbai held that an assessment order framed under section 147 read with section 144 of the Act, completed to the best of the AO's judgment, cannot be deemed erroneous or prejudicial to the revenue for the purpose of invoking revision under section 263. The AO's best judgment assessment under section 144 is absolute and cannot be substituted by the CIT(E)'s view. Consequently, the revision order passed by the CIT was set aside, and the assessee's appeal was allowed. Case-Laws Income Tax Wed, 23 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=776110