https://www.taxtmi.com/caselaws?id=216379 The Tribunal upheld the Commissioner's decision under section 263 to set aside the assessment order due to errors and lack of application of mind by the assessing officer. The Tribunal emphasized the necessity for the assessing officer to demonstrate a thought process in the assessment order and concluded that the lack of enquiry on the issue of excess claimed on purchases rendered the assessing officer's order erroneous and prejudicial to revenue. The Tribunal dismissed the appeal, affirming the Commissioner's directive to re-do the assessment after proper enquiry into the genuineness of purchases. en-us Fri, 22 Jun 2012 00:00:00 +0530 Mon, 20 Aug 2012 18:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216379 The Tribunal upheld the Commissioner's decision under section 263 to set aside the assessment order due to errors and lack of application of mind by the assessing officer. The Tribunal emphasized the necessity for the assessing officer to demonstrate a thought process in the assessment order and concluded that the lack of enquiry on the issue of excess claimed on purchases rendered the assessing officer's order erroneous and prejudicial to revenue. The Tribunal dismissed the appeal, affirming the Commissioner's directive to re-do the assessment after proper enquiry into the genuineness of purchases. Case-Laws Income Tax Fri, 22 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216379