https://www.taxtmi.com/caselaws?id=329367 The Tribunal held that the Principal Commissioner of Income Tax was not justified in invoking Section 263 as the Assessing Officer had conducted necessary inquiries and taken permissible views in law. The Tribunal set aside the CIT's order and allowed the assessee's appeal regarding jurisdiction under Section 263, non-inclusion of unutilized CENVAT credit in closing stock, and disallowance under Section 14A read with Rule 8D. The order cancelling the AO's assessment was overturned on June 3, 2016, in Ahmedabad. en-us Fri, 03 Jun 2016 00:00:00 +0530 Thu, 30 Jun 2016 11:11:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329367 The Tribunal held that the Principal Commissioner of Income Tax was not justified in invoking Section 263 as the Assessing Officer had conducted necessary inquiries and taken permissible views in law. The Tribunal set aside the CIT's order and allowed the assessee's appeal regarding jurisdiction under Section 263, non-inclusion of unutilized CENVAT credit in closing stock, and disallowance under Section 14A read with Rule 8D. The order cancelling the AO's assessment was overturned on June 3, 2016, in Ahmedabad. Case-Laws Income Tax Fri, 03 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329367