https://www.taxtmi.com/caselaws?id=256411 The Income Tax Appellate Tribunal (ITAT) quashed the Commissioner of Income Tax's (CIT) order under Section 263 for Assessment Year 2006-07, as the assessing officer adequately examined discrepancies and explanations, following the precedent set by the Delhi Court. The ITAT ruled in favor of the assessee, emphasizing the assessing officer's due diligence and dismissed the Revenue's appeal, stating no substantial question of law arose. The case involved discrepancies found during a survey, reexamination by the CIT, consideration of discounted sales, and the ITAT's decision supporting the assessee. en-us Thu, 05 Feb 2015 00:00:00 +0530 Fri, 08 May 2015 12:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256411 The Income Tax Appellate Tribunal (ITAT) quashed the Commissioner of Income Tax's (CIT) order under Section 263 for Assessment Year 2006-07, as the assessing officer adequately examined discrepancies and explanations, following the precedent set by the Delhi Court. The ITAT ruled in favor of the assessee, emphasizing the assessing officer's due diligence and dismissed the Revenue's appeal, stating no substantial question of law arose. The case involved discrepancies found during a survey, reexamination by the CIT, consideration of discounted sales, and the ITAT's decision supporting the assessee. Case-Laws Income Tax Thu, 05 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256411