https://www.taxtmi.com/caselaws?id=255118 The tribunal allowed the appeal filed by the assessee, emphasizing the necessity of thorough inquiries and application of mind before invoking powers under section 263. The tribunal quashed the order under section 263 due to lack of proper inquiry and reliance on suspicions, highlighting the importance of concrete evidence and proper verification in assessment proceedings. en-us Thu, 11 Dec 2014 00:00:00 +0530 Wed, 07 Jan 2015 20:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255118 The tribunal allowed the appeal filed by the assessee, emphasizing the necessity of thorough inquiries and application of mind before invoking powers under section 263. The tribunal quashed the order under section 263 due to lack of proper inquiry and reliance on suspicions, highlighting the importance of concrete evidence and proper verification in assessment proceedings. Case-Laws Income Tax Thu, 11 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255118