https://www.taxtmi.com/caselaws?id=365282 The Tribunal held that the Principal Commissioner of Income Tax's order under Section 263 was not justified as the Assessing Officer had conducted substantial inquiries and disallowances. The Tribunal found that the AO had adequately examined various expenses and deductions claimed by the assessee, including business advancement expenses, manufacturing process and goods, R&D expenses, patent-related expenses, clinical research expenses, and selling and publicity expenses. The Pr.CIT's allegations of inadequate inquiries were deemed unfounded, leading to the Tribunal setting aside the Pr.CIT's order and restoring the AO's decision, ultimately allowing the assessee's appeal. en-us Wed, 08 Aug 2018 00:00:00 +0530 Tue, 14 Aug 2018 07:44:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=365282 The Tribunal held that the Principal Commissioner of Income Tax's order under Section 263 was not justified as the Assessing Officer had conducted substantial inquiries and disallowances. The Tribunal found that the AO had adequately examined various expenses and deductions claimed by the assessee, including business advancement expenses, manufacturing process and goods, R&D expenses, patent-related expenses, clinical research expenses, and selling and publicity expenses. The Pr.CIT's allegations of inadequate inquiries were deemed unfounded, leading to the Tribunal setting aside the Pr.CIT's order and restoring the AO's decision, ultimately allowing the assessee's appeal. Case-Laws Income Tax Wed, 08 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=365282