https://www.taxtmi.com/caselaws?id=182220 The Tribunal found that the assessment order for A.Y. 2006-07 was not erroneous or prejudicial to the Revenue's interest as the Assessing Officer had conducted necessary enquiries regarding the Short Term Capital Gain (STCG) and correctly assessed it under 'capital gain'. The Tribunal emphasized that although the enquiries may have been inadequate, they were not entirely lacking. Consequently, the Tribunal canceled the order passed under section 263 by the Commissioner of Income Tax (Appeals) and allowed the assessee's appeal. en-us Fri, 19 Oct 2012 00:00:00 +0530 Thu, 05 May 2016 13:06:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=182220 The Tribunal found that the assessment order for A.Y. 2006-07 was not erroneous or prejudicial to the Revenue's interest as the Assessing Officer had conducted necessary enquiries regarding the Short Term Capital Gain (STCG) and correctly assessed it under 'capital gain'. The Tribunal emphasized that although the enquiries may have been inadequate, they were not entirely lacking. Consequently, the Tribunal canceled the order passed under section 263 by the Commissioner of Income Tax (Appeals) and allowed the assessee's appeal. Case-Laws Income Tax Fri, 19 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=182220