https://www.taxtmi.com/caselaws?id=11724 HC allowed the appeal, reversed the Tribunal and set aside the Commissioner's revision under section 263. The court held the assessee had produced sufficient material and the AO had made full inquiries (including an office note explaining non-addition of Rs.10 lakhs for stock discrepancy). The Tribunal erred by relying solely on absence of detail in the assessment order rather than the record. Absent any suggestion that the inquiry was improper, the successor Commissioner could not fault the assessment as lacking application of mind. en-us Fri, 23 May 2003 00:00:00 +0530 Fri, 26 Sep 2025 18:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11724 HC allowed the appeal, reversed the Tribunal and set aside the Commissioner's revision under section 263. The court held the assessee had produced sufficient material and the AO had made full inquiries (including an office note explaining non-addition of Rs.10 lakhs for stock discrepancy). The Tribunal erred by relying solely on absence of detail in the assessment order rather than the record. Absent any suggestion that the inquiry was improper, the successor Commissioner could not fault the assessment as lacking application of mind. Case-Laws Income Tax Fri, 23 May 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11724