2016 (11) TMI 1189 - SCH - Income Tax

Revision u/s 263 - Held that - HC order confirmed 2016 (4) TMI 173 - BOMBAY HIGH COURT . No reason to entertain this special leave petition, which is, accordingly, dismissed. Assessing Officer not only made enquiries, but satisfied himself with the assessee s replies furnished from time to time in support of its stand, thus order passed by him cannot be termed as erroneous insofar as it is prejudicial to the interest of the Revenue. The Commissioner of Income Tax was not, therefore, justified in invoking section 263 of the Act. - Decided in favour of assessee