https://www.taxtmi.com/caselaws?id=335975 The Court upheld the Tribunal's decision in a challenge to an order under Section 263 of the Income Tax Act for Assessment Year 1997-98. The Appellant's appeal was dismissed as the original assessment order was found to be erroneous and prejudicial to the Revenue due to the lack of investigation into the valuation of shares. The Court determined that there was a case of non-enquiry rather than inadequate enquiry, leading to the dismissal of the appeal in favor of the Revenue. en-us Wed, 07 Dec 2016 00:00:00 +0530 Mon, 12 Dec 2016 15:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=335975 The Court upheld the Tribunal's decision in a challenge to an order under Section 263 of the Income Tax Act for Assessment Year 1997-98. The Appellant's appeal was dismissed as the original assessment order was found to be erroneous and prejudicial to the Revenue due to the lack of investigation into the valuation of shares. The Court determined that there was a case of non-enquiry rather than inadequate enquiry, leading to the dismissal of the appeal in favor of the Revenue. Case-Laws Income Tax Wed, 07 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=335975