https://www.taxtmi.com/caselaws?id=196158 The Tribunal upheld the CIT's order u/s 263, finding the AO's assessment order erroneous and prejudicial to the interest of revenue due to lack of proper inquiry and verification, exacerbated by the assessee's non-cooperation. The Tribunal emphasized the necessity for thorough examination of issues, including genuineness of booking advances, project expenses, and taxability of the revaluation amount. The direction for a de-novo assessment was upheld, highlighting the importance of proper inquiries and verification procedures. en-us Fri, 12 Dec 2014 00:00:00 +0530 Tue, 21 Nov 2017 08:40:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=196158 The Tribunal upheld the CIT's order u/s 263, finding the AO's assessment order erroneous and prejudicial to the interest of revenue due to lack of proper inquiry and verification, exacerbated by the assessee's non-cooperation. The Tribunal emphasized the necessity for thorough examination of issues, including genuineness of booking advances, project expenses, and taxability of the revaluation amount. The direction for a de-novo assessment was upheld, highlighting the importance of proper inquiries and verification procedures. Case-Laws Income Tax Fri, 12 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=196158