https://www.taxtmi.com/caselaws?id=343976 The Tribunal partly allowed the appeal, upholding the need for further investigation into the forfeited amount while dismissing the requirement for additional inquiry into the deduction under section 54F of the Act. The assessing officer's order was found to be erroneous and prejudicial to the revenue's interests, leading to the Commissioner of Income Tax's intervention under section 263 of the Act. The Tribunal agreed with the Commissioner's directive for proper investigation into the forfeited amount but disagreed on the necessity for further inquiry into the deduction under section 54F. en-us Fri, 02 Jun 2017 00:00:00 +0530 Tue, 06 Jun 2017 12:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=343976 The Tribunal partly allowed the appeal, upholding the need for further investigation into the forfeited amount while dismissing the requirement for additional inquiry into the deduction under section 54F of the Act. The assessing officer's order was found to be erroneous and prejudicial to the revenue's interests, leading to the Commissioner of Income Tax's intervention under section 263 of the Act. The Tribunal agreed with the Commissioner's directive for proper investigation into the forfeited amount but disagreed on the necessity for further inquiry into the deduction under section 54F. Case-Laws Income Tax Fri, 02 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=343976