https://www.taxtmi.com/caselaws?id=181413 The Tribunal upheld the CIT's order u/s 263 of the Income Tax Act, finding the Assessing Officer's failure to conduct proper inquiries rendered the assessment order erroneous and prejudicial to revenue. The appeal against the order setting aside the assessment for AY 2006-07 was dismissed, affirming the CIT's directions for a fresh assessment due to non-disallowance u/s 40(a) for payment to Nilakandan Brothers Constructions and non-admission of work-in-progress in the balance sheet. en-us Fri, 01 Oct 2010 00:00:00 +0530 Sat, 16 Apr 2016 13:16:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181413 The Tribunal upheld the CIT's order u/s 263 of the Income Tax Act, finding the Assessing Officer's failure to conduct proper inquiries rendered the assessment order erroneous and prejudicial to revenue. The appeal against the order setting aside the assessment for AY 2006-07 was dismissed, affirming the CIT's directions for a fresh assessment due to non-disallowance u/s 40(a) for payment to Nilakandan Brothers Constructions and non-admission of work-in-progress in the balance sheet. Case-Laws Income Tax Fri, 01 Oct 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181413