Friday 10 January 2014

CIT can't make sec. 263 revision merely due to his dissatisfaction with manner of assessment

IT: Where Assessing Officer had made necessary enquiry about bank transactions and after being satisfied from assessee's explanation that such transactions were genuine, he passed order under section 143(3), a mere disagreement or dissatisfaction of Commissioner over manner of assessment could not be a basis for revision of order under section 263


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