https://www.taxtmi.com/caselaws?id=267463 The tribunal set aside the Commissioner of Income Tax's order under section 263, ruling it invalid. The assessment order by the Assessing Officer was deemed not erroneous or prejudicial to revenue, as proper inquiry was conducted. The additions made by the Commissioner under section 68 were found unjustified, as the Assessing Officer had already verified the details. The rejection of books of accounts under section 145(3) was deemed improper due to lack of notice. The tribunal allowed the appeal, highlighting violations of natural justice and procedural requirements. en-us Wed, 30 Sep 2015 00:00:00 +0530 Thu, 05 Nov 2015 22:05:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=267463 The tribunal set aside the Commissioner of Income Tax's order under section 263, ruling it invalid. The assessment order by the Assessing Officer was deemed not erroneous or prejudicial to revenue, as proper inquiry was conducted. The additions made by the Commissioner under section 68 were found unjustified, as the Assessing Officer had already verified the details. The rejection of books of accounts under section 145(3) was deemed improper due to lack of notice. The tribunal allowed the appeal, highlighting violations of natural justice and procedural requirements. Case-Laws Income Tax Wed, 30 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=267463