https://www.taxtmi.com/caselaws?id=352207 SC affirmed HC's decision upholding the CIT's exercise of power under s.263 of the Income Tax Act, holding that the AO had failed to make proper inquiry into receipt of share application money. The CIT set aside the AO's assessment and directed a thorough, detailed inquiry; SC found no reason to interfere and upheld that direction, remitting the matter for fresh inquiry by the AO. en-us Wed, 29 Nov 2017 00:00:00 +0530 Mon, 22 Sep 2025 11:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=352207 SC affirmed HC's decision upholding the CIT's exercise of power under s.263 of the Income Tax Act, holding that the AO had failed to make proper inquiry into receipt of share application money. The CIT set aside the AO's assessment and directed a thorough, detailed inquiry; SC found no reason to interfere and upheld that direction, remitting the matter for fresh inquiry by the AO. Case-Laws Income Tax Wed, 29 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=352207