https://www.taxtmi.com/caselaws?id=269937 The Tribunal upheld all impugned orders, dismissing appeals challenging the correctness of orders passed by CIT u/s 263 of the Income-tax Act, 1961. The Tribunal affirmed the power of CIT to revise assessment orders if the AO's inquiry was inadequate, emphasizing the need for proper assessment procedures. Additionally, the Tribunal clarified the role of the CIT in ensuring satisfactory explanations for cash credits under section 68. The applicability of judgments on the retrospective effect of the proviso to section 68 was also affirmed, leading to the dismissal of all appeals. en-us Wed, 04 Nov 2015 00:00:00 +0530 Thu, 24 Dec 2015 13:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=269937 The Tribunal upheld all impugned orders, dismissing appeals challenging the correctness of orders passed by CIT u/s 263 of the Income-tax Act, 1961. The Tribunal affirmed the power of CIT to revise assessment orders if the AO's inquiry was inadequate, emphasizing the need for proper assessment procedures. Additionally, the Tribunal clarified the role of the CIT in ensuring satisfactory explanations for cash credits under section 68. The applicability of judgments on the retrospective effect of the proviso to section 68 was also affirmed, leading to the dismissal of all appeals. Case-Laws Income Tax Wed, 04 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=269937