https://www.taxtmi.com/caselaws?id=13676 The HC dismissed the revenue appeal under section 263, holding that mere absence of creditor confirmations or failure to hold certain enquiries did not, without more, establish that the Assessing Officer failed to apply his mind or that the assessment was erroneous and prejudicial. The Tribunal's factual finding that relevant enquiries were made and matters considered by the AO stood, and the Commissioner's assumption of jurisdiction under section 263 was unsustainable. No substantial question of law arose from the AO's findings. en-us Mon, 08 Aug 2005 00:00:00 +0530 Tue, 14 Jul 2026 11:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13676 The HC dismissed the revenue appeal under section 263, holding that mere absence of creditor confirmations or failure to hold certain enquiries did not, without more, establish that the Assessing Officer failed to apply his mind or that the assessment was erroneous and prejudicial. The Tribunal's factual finding that relevant enquiries were made and matters considered by the AO stood, and the Commissioner's assumption of jurisdiction under section 263 was unsustainable. No substantial question of law arose from the AO's findings. Case-Laws Income Tax Mon, 08 Aug 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13676