https://www.taxtmi.com/caselaws?id=219959 The High Court upheld the Tribunal's decision to set aside the assessment order for reassessment under Section 263 of the Income Tax Act, 1961. The Court found that the Commissioner lacked jurisdiction due to insufficient inquiries by the Assessing Officer regarding foreign exchange expenses, which were reimbursed without profit. As the expenses were not incurred in providing services outside India and were not included in export turnover, the Tribunal's decision was upheld, dismissing the appeal. The Court concluded that the questions raised did not constitute substantial questions of law, affirming the Tribunal's decision without awarding costs. en-us Tue, 18 Dec 2012 00:00:00 +0530 Thu, 03 Jan 2013 10:05:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=219959 The High Court upheld the Tribunal's decision to set aside the assessment order for reassessment under Section 263 of the Income Tax Act, 1961. The Court found that the Commissioner lacked jurisdiction due to insufficient inquiries by the Assessing Officer regarding foreign exchange expenses, which were reimbursed without profit. As the expenses were not incurred in providing services outside India and were not included in export turnover, the Tribunal's decision was upheld, dismissing the appeal. The Court concluded that the questions raised did not constitute substantial questions of law, affirming the Tribunal's decision without awarding costs. Case-Laws Income Tax Tue, 18 Dec 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=219959