https://www.taxtmi.com/caselaws?id=271697 The Tribunal found that the Commissioner of Income-tax's invocation of Section 263 was unwarranted as the Assessing Officer's assessment order was not erroneous or prejudicial to revenue interests. The Tribunal held that the AO had adequately examined the books of accounts and trading results, rejecting the CIT's rejection of the books of accounts and additional assessment. Consequently, the Tribunal allowed the assessee's appeal, restoring the original assessment order by the AO. en-us Mon, 11 Jan 2016 00:00:00 +0530 Sat, 13 Feb 2016 10:06:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=271697 The Tribunal found that the Commissioner of Income-tax's invocation of Section 263 was unwarranted as the Assessing Officer's assessment order was not erroneous or prejudicial to revenue interests. The Tribunal held that the AO had adequately examined the books of accounts and trading results, rejecting the CIT's rejection of the books of accounts and additional assessment. Consequently, the Tribunal allowed the assessee's appeal, restoring the original assessment order by the AO. Case-Laws Income Tax Mon, 11 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=271697