https://www.taxtmi.com/caselaws?id=263775 The Tribunal allowed the appeal, setting aside the Commissioner of Income Tax's order under Section 263. It held that the Assessing Officer had conducted thorough inquiries and applied his judgment appropriately, finding no errors or prejudice to revenue. The Tribunal emphasized that differing opinions between the AO and CIT do not warrant invoking Section 263 if proper inquiries were made. Consequently, the CIT's invocation of Section 263 was deemed unjustified, and the assessee's appeal was successful. en-us Wed, 27 May 2015 00:00:00 +0530 Thu, 10 Sep 2015 08:18:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=263775 The Tribunal allowed the appeal, setting aside the Commissioner of Income Tax's order under Section 263. It held that the Assessing Officer had conducted thorough inquiries and applied his judgment appropriately, finding no errors or prejudice to revenue. The Tribunal emphasized that differing opinions between the AO and CIT do not warrant invoking Section 263 if proper inquiries were made. Consequently, the CIT's invocation of Section 263 was deemed unjustified, and the assessee's appeal was successful. Case-Laws Income Tax Wed, 27 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=263775