https://www.taxtmi.com/caselaws?id=344599 The Tribunal set aside the CIT's order invoking section 263 of the Income Tax Act, 1961, as it found the AO had conducted an adequate enquiry during the assessment proceedings. The Tribunal emphasized that revisional jurisdiction cannot be exercised merely for inadequate enquiry when the AO has applied his mind and taken a possible view. The Tribunal allowed the assessee's appeals, highlighting that the CIT's direction for further enquiries was not justified. The decision was pronounced on 17th April 2017. en-us Mon, 17 Apr 2017 00:00:00 +0530 Wed, 21 Jun 2017 09:21:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344599 The Tribunal set aside the CIT's order invoking section 263 of the Income Tax Act, 1961, as it found the AO had conducted an adequate enquiry during the assessment proceedings. The Tribunal emphasized that revisional jurisdiction cannot be exercised merely for inadequate enquiry when the AO has applied his mind and taken a possible view. The Tribunal allowed the assessee's appeals, highlighting that the CIT's direction for further enquiries was not justified. The decision was pronounced on 17th April 2017. Case-Laws Income Tax Mon, 17 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344599