https://www.taxtmi.com/caselaws?id=209692 The High Court set aside the Tribunal's order and upheld the CIT's decision under Section 263 of the Income Tax Act. It found the AO's failure to investigate the character of dividend income for set off against business losses as erroneous. The Court restored the matter to the CIT (A) for further consideration, emphasizing the need for proper inquiry into the nature of income. en-us Wed, 11 May 2011 00:00:00 +0530 Mon, 26 Mar 2012 15:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=209692 The High Court set aside the Tribunal's order and upheld the CIT's decision under Section 263 of the Income Tax Act. It found the AO's failure to investigate the character of dividend income for set off against business losses as erroneous. The Court restored the matter to the CIT (A) for further consideration, emphasizing the need for proper inquiry into the nature of income. Case-Laws Income Tax Wed, 11 May 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=209692