https://www.taxtmi.com/caselaws?id=182285 The Tribunal quashed the CIT's order under section 263, determining that the assessment order was neither erroneous nor prejudicial to the interests of revenue. It found that the AO had adequately examined the relevant details, including gifts, losses, and deductions. The Tribunal concluded that the CIT's reliance on conjecture and surmise was unjustified, allowing the assessee's appeal. en-us Tue, 22 Jun 2004 00:00:00 +0530 Thu, 04 Jul 2024 14:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=182285 The Tribunal quashed the CIT's order under section 263, determining that the assessment order was neither erroneous nor prejudicial to the interests of revenue. It found that the AO had adequately examined the relevant details, including gifts, losses, and deductions. The Tribunal concluded that the CIT's reliance on conjecture and surmise was unjustified, allowing the assessee's appeal. Case-Laws Income Tax Tue, 22 Jun 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=182285