https://www.taxtmi.com/caselaws?id=68087 The Tribunal held that the Commissioner of Income Tax (CIT) lacked justification for setting aside the assessment order of a Hindu Undivided Family (HUF) under section 263. The Tribunal found that the CIT incorrectly presumed income belonging to the HUF without sufficient evidence, and the legal precedents cited were deemed inapplicable. Consequently, the CIT's order was cancelled, and the appeal by the assessee was allowed due to the inadequacy of enquiries conducted and the lack of reasonable basis for assessing the amount in the hands of the HUF. en-us Thu, 28 Dec 1989 00:00:00 +0530 Wed, 16 Mar 2011 18:19:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68087 The Tribunal held that the Commissioner of Income Tax (CIT) lacked justification for setting aside the assessment order of a Hindu Undivided Family (HUF) under section 263. The Tribunal found that the CIT incorrectly presumed income belonging to the HUF without sufficient evidence, and the legal precedents cited were deemed inapplicable. Consequently, the CIT's order was cancelled, and the appeal by the assessee was allowed due to the inadequacy of enquiries conducted and the lack of reasonable basis for assessing the amount in the hands of the HUF. Case-Laws Income Tax Thu, 28 Dec 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68087