https://www.taxtmi.com/caselaws?id=65547 The ITAT DELHI-H allowed the appeal, quashing the CIT's order under section 263 of the IT Act, 1961. The Tribunal determined that the Assessing Officer (AO) had conducted a thorough examination, made necessary inquiries, and duly considered the facts before finalizing the assessment. The Tribunal found no specific defects in the information provided by the assessee and concluded that the CIT's objections did not render the AO's order erroneous or prejudicial to the Revenue. Thus, the AO's assessment was upheld, emphasizing the judicious exercise of the CIT's revisionary powers. en-us Fri, 27 Feb 2009 00:00:00 +0530 Fri, 27 Oct 2023 10:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65547 The ITAT DELHI-H allowed the appeal, quashing the CIT's order under section 263 of the IT Act, 1961. The Tribunal determined that the Assessing Officer (AO) had conducted a thorough examination, made necessary inquiries, and duly considered the facts before finalizing the assessment. The Tribunal found no specific defects in the information provided by the assessee and concluded that the CIT's objections did not render the AO's order erroneous or prejudicial to the Revenue. Thus, the AO's assessment was upheld, emphasizing the judicious exercise of the CIT's revisionary powers. Case-Laws Income Tax Fri, 27 Feb 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65547