https://www.taxtmi.com/caselaws?id=327117 The Tribunal overturned the Commissioner of Income-tax's order under section 263, reinstating the original assessment order by the Assessing Officer for the assessment year 2009-10. The Tribunal found that the Assessing Officer had conducted proper inquiries into the cash deposits, including verifying relevant documents and statements, indicating no error in the assessment. Citing legal precedents, the Tribunal emphasized that a mere difference of opinion or an audit objection does not make an order erroneous unless legally unsustainable. Consequently, the assessee's appeal was successful, and the original assessment order was upheld. en-us Tue, 08 Mar 2016 00:00:00 +0530 Wed, 04 May 2016 09:13:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327117 The Tribunal overturned the Commissioner of Income-tax's order under section 263, reinstating the original assessment order by the Assessing Officer for the assessment year 2009-10. The Tribunal found that the Assessing Officer had conducted proper inquiries into the cash deposits, including verifying relevant documents and statements, indicating no error in the assessment. Citing legal precedents, the Tribunal emphasized that a mere difference of opinion or an audit objection does not make an order erroneous unless legally unsustainable. Consequently, the assessee's appeal was successful, and the original assessment order was upheld. Case-Laws Income Tax Tue, 08 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327117