https://www.taxtmi.com/caselaws?id=336154 The Tribunal set aside the Principal CIT's decision under section 263, restoring the original assessment order. It held that the AO had adequately examined the cash deposits and related agreements, finding no justification for invoking section 263. The Tribunal emphasized that mere audit objections were insufficient to declare the assessment erroneous. The assessee's appeal was allowed, and the assessment order dated 17.09.2013 was upheld. en-us Wed, 09 Nov 2016 00:00:00 +0530 Fri, 16 Dec 2016 14:48:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=336154 The Tribunal set aside the Principal CIT's decision under section 263, restoring the original assessment order. It held that the AO had adequately examined the cash deposits and related agreements, finding no justification for invoking section 263. The Tribunal emphasized that mere audit objections were insufficient to declare the assessment erroneous. The assessee's appeal was allowed, and the assessment order dated 17.09.2013 was upheld. Case-Laws Income Tax Wed, 09 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=336154