https://www.taxtmi.com/caselaws?id=349261 The Tribunal found that the Assessing Officer (AO) had adequately verified the trading results, accounts of M/s Simplex Polymers, remuneration to partners, applicability of Section 2(22)(e), payments to certain parties, and verification of sundry debtors during assessment proceedings. The Tribunal concluded that the AO's order was not erroneous or prejudicial to revenue, as all necessary details were submitted and verified, and statutory notices were issued. Therefore, the Tribunal allowed the appeal filed by the assessee, quashing the Commissioner of Income Tax's order under section 263. en-us Mon, 07 Aug 2017 00:00:00 +0530 Tue, 10 Oct 2017 07:58:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=349261 The Tribunal found that the Assessing Officer (AO) had adequately verified the trading results, accounts of M/s Simplex Polymers, remuneration to partners, applicability of Section 2(22)(e), payments to certain parties, and verification of sundry debtors during assessment proceedings. The Tribunal concluded that the AO's order was not erroneous or prejudicial to revenue, as all necessary details were submitted and verified, and statutory notices were issued. Therefore, the Tribunal allowed the appeal filed by the assessee, quashing the Commissioner of Income Tax's order under section 263. Case-Laws Income Tax Mon, 07 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=349261