https://www.taxtmi.com/caselaws?id=220323 The tribunal upheld the revision order passed by the Ld CIT under section 263 of the Act, dismissing the appeal. The decision was based on the lack of proper verification by the AO regarding the change in the method of valuation of "rejected castings," deeming the assessment order erroneous. The tribunal emphasized the importance of thorough inquiries by the AO on significant issues affecting total income to prevent incorrect assessments. en-us Fri, 21 Dec 2012 00:00:00 +0530 Fri, 18 Jan 2013 10:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=220323 The tribunal upheld the revision order passed by the Ld CIT under section 263 of the Act, dismissing the appeal. The decision was based on the lack of proper verification by the AO regarding the change in the method of valuation of "rejected castings," deeming the assessment order erroneous. The tribunal emphasized the importance of thorough inquiries by the AO on significant issues affecting total income to prevent incorrect assessments. Case-Laws Income Tax Fri, 21 Dec 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=220323