The Tribunal held that, the Assessing Officer has issued a questionnaire wherein specific information was sought on transaction of equity shares and working of short-term and long-term capital gains. The assessee furnished a detailed reply to the notice informing that a declaration under the 2016 Scheme in respect of the long-term capital gains arising on sale of shares and the Assessing Officer after examining the documents accepted it and made no addition. Merely because the Assessing Officer had taken a plausible view after examining the records that was not acceptable to the Principal Commissioner, that would not make the assessment order erroneous. The twin conditions set out in section 263 were not satisfied and the Principal Commissioner had wrongly assumed revisional jurisdiction. The order was liable to be quashed.( AY.2015-16)