https://www.taxtmi.com/caselaws?id=340669 The tribunal upheld the Principal Commissioner of Income Tax's findings that the Assessing Officer's assessment order was erroneous and prejudicial to revenue. The tribunal agreed that the AO failed to properly verify claims related to sale value of shares and exemption under Section 54F. The PCIT's directions for re-examination of these issues were supported, emphasizing the importance of thorough verification and compliance with regulatory guidelines. The tribunal dismissed the assessee's appeal, highlighting the AO's duty to conduct diligent enquiries and ensure fair adjudication in tax assessments. en-us Fri, 17 Feb 2017 00:00:00 +0530 Fri, 24 Mar 2017 12:50:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=340669 The tribunal upheld the Principal Commissioner of Income Tax's findings that the Assessing Officer's assessment order was erroneous and prejudicial to revenue. The tribunal agreed that the AO failed to properly verify claims related to sale value of shares and exemption under Section 54F. The PCIT's directions for re-examination of these issues were supported, emphasizing the importance of thorough verification and compliance with regulatory guidelines. The tribunal dismissed the assessee's appeal, highlighting the AO's duty to conduct diligent enquiries and ensure fair adjudication in tax assessments. Case-Laws Income Tax Fri, 17 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=340669