https://www.taxtmi.com/caselaws?id=267724 The Tribunal held that the Assessing Officer (A.O.) conducted a proper enquiry and exercised sound judgment in the assessment. The Tribunal found that the Commissioner of Income Tax's assumption of jurisdiction under section 263 was unwarranted as the A.O.'s order was not erroneous or prejudicial to revenue interests. The original assessment order was restored, emphasizing that mere differences in opinion or inadequate enquiry do not justify revision under section 263. Consequently, the appeal by the assessee was allowed. en-us Wed, 30 Sep 2015 00:00:00 +0530 Fri, 13 Nov 2015 15:53:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=267724 The Tribunal held that the Assessing Officer (A.O.) conducted a proper enquiry and exercised sound judgment in the assessment. The Tribunal found that the Commissioner of Income Tax's assumption of jurisdiction under section 263 was unwarranted as the A.O.'s order was not erroneous or prejudicial to revenue interests. The original assessment order was restored, emphasizing that mere differences in opinion or inadequate enquiry do not justify revision under section 263. Consequently, the appeal by the assessee was allowed. Case-Laws Income Tax Wed, 30 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=267724