https://www.taxtmi.com/caselaws?id=236838 The Tribunal found the original assessment order to be erroneous and prejudicial to revenue due to the AO's failure to conduct necessary inquiries. Discrepancies in sales figures, statutory dues, export sales, CST payments, sales returns, and stock valuation were noted. The CIT invoked Section 263, setting aside the assessment order and directing a reassessment considering the discrepancies. The Tribunal upheld this decision, emphasizing the AO's duty to conduct thorough examinations. The appeal was partly allowed, and the issues were remitted back to the AO for fresh consideration. en-us Fri, 22 Feb 2013 00:00:00 +0530 Tue, 10 Sep 2013 06:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=236838 The Tribunal found the original assessment order to be erroneous and prejudicial to revenue due to the AO's failure to conduct necessary inquiries. Discrepancies in sales figures, statutory dues, export sales, CST payments, sales returns, and stock valuation were noted. The CIT invoked Section 263, setting aside the assessment order and directing a reassessment considering the discrepancies. The Tribunal upheld this decision, emphasizing the AO's duty to conduct thorough examinations. The appeal was partly allowed, and the issues were remitted back to the AO for fresh consideration. Case-Laws Income Tax Fri, 22 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=236838