https://www.taxtmi.com/caselaws?id=155012 The Tribunal held that the Commissioner of Income-tax (CIT) had no jurisdiction to invoke Section 263 as the Assessing Officer's view on allowing the set-off of the Association of Persons' (AOP) loss against the assessee's income was a possible view. The Tribunal found that the CIT's reliance on a specific judgment was misplaced, as newer provisions were applicable. It was determined that the AO had conducted a proper inquiry, and the assessee had provided complete disclosure. As a result, the Tribunal canceled the CIT's orders and allowed the assessee's appeals. en-us Fri, 26 Aug 2011 00:00:00 +0530 Sat, 31 Aug 2013 11:57:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=155012 The Tribunal held that the Commissioner of Income-tax (CIT) had no jurisdiction to invoke Section 263 as the Assessing Officer's view on allowing the set-off of the Association of Persons' (AOP) loss against the assessee's income was a possible view. The Tribunal found that the CIT's reliance on a specific judgment was misplaced, as newer provisions were applicable. It was determined that the AO had conducted a proper inquiry, and the assessee had provided complete disclosure. As a result, the Tribunal canceled the CIT's orders and allowed the assessee's appeals. Case-Laws Income Tax Fri, 26 Aug 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=155012