https://www.taxtmi.com/caselaws?id=335001 The High Court upheld the Tribunal's decision to quash the CIT's order under Section 263 of the Act. The High Court concurred with the Tribunal's findings that all transactions were properly disclosed, and the AO's assessment order was not erroneous or prejudicial to the revenue. Consequently, the High Court found no substantial question of law in the appeal, dismissing it for lacking merit. The High Court's judgment affirmed the Tribunal's decision, emphasizing the adequacy of the assessment process and the absence of any revenue loss. en-us Thu, 03 Nov 2016 00:00:00 +0530 Thu, 24 Nov 2016 20:02:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=335001 The High Court upheld the Tribunal's decision to quash the CIT's order under Section 263 of the Act. The High Court concurred with the Tribunal's findings that all transactions were properly disclosed, and the AO's assessment order was not erroneous or prejudicial to the revenue. Consequently, the High Court found no substantial question of law in the appeal, dismissing it for lacking merit. The High Court's judgment affirmed the Tribunal's decision, emphasizing the adequacy of the assessment process and the absence of any revenue loss. Case-Laws Income Tax Thu, 03 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=335001