https://www.taxtmi.com/caselaws?id=347772 The ITAT's decision to set aside the PCIT's order under Section 263 of the Income Tax Act for the Assessment Year 2011-12 was upheld. The Court found that the PCIT failed to conduct a proper inquiry before determining the excess depreciation claimed by the Assessee, emphasizing the necessity of minimal inquiry for jurisdiction under Section 263. The ITAT emphasized that the PCIT should have investigated the assets owned by the Assessee instead of solely relying on a circular, leading to the dismissal of the appeal due to the lack of a substantial legal question. en-us Tue, 05 Sep 2017 00:00:00 +0530 Sat, 18 Nov 2017 13:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=347772 The ITAT's decision to set aside the PCIT's order under Section 263 of the Income Tax Act for the Assessment Year 2011-12 was upheld. The Court found that the PCIT failed to conduct a proper inquiry before determining the excess depreciation claimed by the Assessee, emphasizing the necessity of minimal inquiry for jurisdiction under Section 263. The ITAT emphasized that the PCIT should have investigated the assets owned by the Assessee instead of solely relying on a circular, leading to the dismissal of the appeal due to the lack of a substantial legal question. Case-Laws Income Tax Tue, 05 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=347772