https://www.taxtmi.com/caselaws?id=335292 The Tribunal found that the Assessing Officer (AO) had conducted a reasonable enquiry before finalizing the assessment, requesting and reviewing various details from the assessee. The Principal Commissioner of Income Tax's (Pr. CIT) order invoking Section 263 was deemed unsustainable due to lack of evidence supporting the claim of errors by the AO. The Tribunal emphasized the importance of thorough investigation and upheld the AO's assessment, quashing the Pr. CIT's order and allowing the appeal by the assessee-company. en-us Fri, 21 Oct 2016 00:00:00 +0530 Thu, 19 Jul 2018 06:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=335292 The Tribunal found that the Assessing Officer (AO) had conducted a reasonable enquiry before finalizing the assessment, requesting and reviewing various details from the assessee. The Principal Commissioner of Income Tax's (Pr. CIT) order invoking Section 263 was deemed unsustainable due to lack of evidence supporting the claim of errors by the AO. The Tribunal emphasized the importance of thorough investigation and upheld the AO's assessment, quashing the Pr. CIT's order and allowing the appeal by the assessee-company. Case-Laws Income Tax Fri, 21 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=335292