https://www.taxtmi.com/caselaws?id=180368 The appeals against the orders of the Commissioner of Income Tax (CIT) under section 263 for Assessment Years (AY) 2007-08 and 2008-09 were dismissed. The CIT found that the Assessing Officer (AO) had not applied his mind, issued stereotyped and cryptic orders, and failed to make necessary inquiries in both cases. Relying on the precedent set in Malabar Industrial Co. Ltd. v. CIT, the CIT directed the AO to conduct a fresh assessment after proper inquiry and consideration of all aspects. The Tribunal's decision in Rajratna Metal Industries Ltd. v. CIT was deemed inapplicable due to the lack of necessary inquiries by the AO. en-us Fri, 15 Mar 2013 00:00:00 +0530 Tue, 22 Mar 2016 14:50:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180368 The appeals against the orders of the Commissioner of Income Tax (CIT) under section 263 for Assessment Years (AY) 2007-08 and 2008-09 were dismissed. The CIT found that the Assessing Officer (AO) had not applied his mind, issued stereotyped and cryptic orders, and failed to make necessary inquiries in both cases. Relying on the precedent set in Malabar Industrial Co. Ltd. v. CIT, the CIT directed the AO to conduct a fresh assessment after proper inquiry and consideration of all aspects. The Tribunal's decision in Rajratna Metal Industries Ltd. v. CIT was deemed inapplicable due to the lack of necessary inquiries by the AO. Case-Laws Income Tax Fri, 15 Mar 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180368