https://www.taxtmi.com/caselaws?id=262937 The High Court dismissed the appeal challenging the order passed under Section 263 of the Income Tax Act, emphasizing that Section 263 applies to cases of lack of inquiry, not inadequate inquiry. The Court held that if an inquiry was conducted and the assessee's response considered, the assessment should not be revisited for inadequacy alone. The distinction between lack and inadequacy of inquiry by the Assessing Officer was highlighted, with the Court upholding the Tribunal's decision to set aside the Commissioner's order under Section 263. en-us Tue, 11 Aug 2015 00:00:00 +0530 Sat, 22 Aug 2015 07:54:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=262937 The High Court dismissed the appeal challenging the order passed under Section 263 of the Income Tax Act, emphasizing that Section 263 applies to cases of lack of inquiry, not inadequate inquiry. The Court held that if an inquiry was conducted and the assessee's response considered, the assessment should not be revisited for inadequacy alone. The distinction between lack and inadequacy of inquiry by the Assessing Officer was highlighted, with the Court upholding the Tribunal's decision to set aside the Commissioner's order under Section 263. Case-Laws Income Tax Tue, 11 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=262937