https://www.taxtmi.com/caselaws?id=351920 ITAT, DELHI - AT held that the AO's assessment was neither erroneous nor prejudicial where detailed queries were issued, books and vouchers (with PANs) were produced, and replies addressed loans, commissions, CIF imports, forex and capitalization of interest. The PCIT's direction under s.263 lacked examination of the assessee's responses and failed to specify any condition under Instruction No.3/2016 requiring TPO reference; mere belief that further inquiry was desirable did not invalidate the AO's order. Matter remitted without proper justification by PCIT; decision in favour of the assessee. en-us Wed, 29 Nov 2017 00:00:00 +0530 Sat, 27 Sep 2025 10:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=351920 ITAT, DELHI - AT held that the AO's assessment was neither erroneous nor prejudicial where detailed queries were issued, books and vouchers (with PANs) were produced, and replies addressed loans, commissions, CIF imports, forex and capitalization of interest. The PCIT's direction under s.263 lacked examination of the assessee's responses and failed to specify any condition under Instruction No.3/2016 requiring TPO reference; mere belief that further inquiry was desirable did not invalidate the AO's order. Matter remitted without proper justification by PCIT; decision in favour of the assessee. Case-Laws Income Tax Wed, 29 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=351920