https://www.taxtmi.com/caselaws?id=264806 The High Court allowed the appeal of the assessee, emphasizing the importance of thorough verification and assessment procedures in tax matters. The Tribunal concluded that the Assessing Officer had appropriately verified all documents and made a reasoned assessment, setting aside the Commissioner's order under Section 263 and restoring the original assessment order. The case focused on the correctness of additions made by the Assessing Officer, validity of the notice issued under Section 263, applicability of Section 36(1)(ii) to commission payments, and observations on the apportionment of expenses between trading and exempt units. en-us Mon, 07 Sep 2015 00:00:00 +0530 Sat, 03 Oct 2015 11:38:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=264806 The High Court allowed the appeal of the assessee, emphasizing the importance of thorough verification and assessment procedures in tax matters. The Tribunal concluded that the Assessing Officer had appropriately verified all documents and made a reasoned assessment, setting aside the Commissioner's order under Section 263 and restoring the original assessment order. The case focused on the correctness of additions made by the Assessing Officer, validity of the notice issued under Section 263, applicability of Section 36(1)(ii) to commission payments, and observations on the apportionment of expenses between trading and exempt units. Case-Laws Income Tax Mon, 07 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=264806