https://www.taxtmi.com/caselaws?id=61810 The Tribunal held that the Income-tax Officer (ITO) did not overlook the provisions of section 69D of the Income-tax Act and had properly scrutinized the genuineness of the transactions involving alleged hundi loans. The Tribunal found that the ITO's actions were justified, as he had conducted a detailed examination and obtained confirmatory letters from creditors. Consequently, the Commissioner of Income-tax's decision to invoke section 263 to revise the ITO's order was deemed unjustified, leading to the Tribunal vacating the Commissioner's order and allowing the appeal. en-us Thu, 25 Apr 1991 00:00:00 +0530 Sat, 15 Jan 2011 11:37:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61810 The Tribunal held that the Income-tax Officer (ITO) did not overlook the provisions of section 69D of the Income-tax Act and had properly scrutinized the genuineness of the transactions involving alleged hundi loans. The Tribunal found that the ITO's actions were justified, as he had conducted a detailed examination and obtained confirmatory letters from creditors. Consequently, the Commissioner of Income-tax's decision to invoke section 263 to revise the ITO's order was deemed unjustified, leading to the Tribunal vacating the Commissioner's order and allowing the appeal. Case-Laws Income Tax Thu, 25 Apr 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61810