https://www.taxtmi.com/caselaws?id=365775 The Tribunal upheld the Principal Commissioner of Income Tax's order under section 263, remitting the issue back to the Assessing Officer for fresh examination. The Tribunal found the assessment order erroneous and prejudicial to the revenue due to the AO's failure to conduct necessary inquiries and verify the assessee's claims properly. The appeal was dismissed, emphasizing the importance of thorough investigation and correct classification of income under the Income Tax Act. en-us Mon, 20 Aug 2018 00:00:00 +0530 Thu, 23 Aug 2018 09:36:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=365775 The Tribunal upheld the Principal Commissioner of Income Tax's order under section 263, remitting the issue back to the Assessing Officer for fresh examination. The Tribunal found the assessment order erroneous and prejudicial to the revenue due to the AO's failure to conduct necessary inquiries and verify the assessee's claims properly. The appeal was dismissed, emphasizing the importance of thorough investigation and correct classification of income under the Income Tax Act. Case-Laws Income Tax Mon, 20 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=365775