https://www.taxtmi.com/caselaws?id=329084 The Tribunal allowed the appeal, quashing the order passed under section 263 of the Income-tax Act, 1961. It found that the Assessing Officer had thoroughly examined the alleged violations, including under section 40A(3), and determined that the order was not erroneous or prejudicial to Revenue. The initiation of proceedings under section 263 based on audit objections was deemed unwarranted. en-us Thu, 25 Feb 2016 00:00:00 +0530 Wed, 22 Jun 2016 09:07:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329084 The Tribunal allowed the appeal, quashing the order passed under section 263 of the Income-tax Act, 1961. It found that the Assessing Officer had thoroughly examined the alleged violations, including under section 40A(3), and determined that the order was not erroneous or prejudicial to Revenue. The initiation of proceedings under section 263 based on audit objections was deemed unwarranted. Case-Laws Income Tax Thu, 25 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329084