https://www.taxtmi.com/caselaws?id=274997 The Tribunal upheld the Principal Commissioner's exercise of revisional jurisdiction under Section 263 of the Income-tax Act, 1961, due to the Assessing Officer's failure to discuss the issues in the assessment order. Emphasizing the importance of recording reasons in quasi-judicial functions to ensure fairness and prevent arbitrariness, the Tribunal directed the Assessing Officer to conduct an independent inquiry and issue a speaking order with recorded reasons, without being swayed by the observations in the impugned order. en-us Fri, 22 Jan 2016 00:00:00 +0530 Thu, 13 Sep 2018 20:27:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=274997 The Tribunal upheld the Principal Commissioner's exercise of revisional jurisdiction under Section 263 of the Income-tax Act, 1961, due to the Assessing Officer's failure to discuss the issues in the assessment order. Emphasizing the importance of recording reasons in quasi-judicial functions to ensure fairness and prevent arbitrariness, the Tribunal directed the Assessing Officer to conduct an independent inquiry and issue a speaking order with recorded reasons, without being swayed by the observations in the impugned order. Case-Laws Income Tax Fri, 22 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=274997