https://www.taxtmi.com/caselaws?id=267097 The tribunal set aside the Commissioner of Income Tax's order under Section 263, ruling that the Assessing Officer's original assessment was valid. The tribunal emphasized that the AO had conducted proper inquiries and considered the evidence presented by the assessee. It concluded that the CIT's direction for a fresh assessment was unwarranted, as the AO's order was neither erroneous nor prejudicial to the Revenue's interests. The appeals of the assessee were allowed, and the direction for a fresh assessment was annulled. en-us Mon, 31 Aug 2015 00:00:00 +0530 Fri, 30 Oct 2015 06:31:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=267097 The tribunal set aside the Commissioner of Income Tax's order under Section 263, ruling that the Assessing Officer's original assessment was valid. The tribunal emphasized that the AO had conducted proper inquiries and considered the evidence presented by the assessee. It concluded that the CIT's direction for a fresh assessment was unwarranted, as the AO's order was neither erroneous nor prejudicial to the Revenue's interests. The appeals of the assessee were allowed, and the direction for a fresh assessment was annulled. Case-Laws Income Tax Mon, 31 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=267097