https://www.taxtmi.com/caselaws?id=376660 The Tribunal upheld the invocation of revisional jurisdiction under Section 263 by the Principal Commissioner, finding the assessment order to be erroneous and prejudicial to the interest of Revenue due to lack of proper inquiry and verification by the Assessing Officer. The Tribunal directed the Assessing Officer to re-examine the genuineness of the loan transaction and dismissed the appeal of the assessee. en-us Mon, 31 Dec 2018 00:00:00 +0530 Wed, 13 Mar 2019 14:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=376660 The Tribunal upheld the invocation of revisional jurisdiction under Section 263 by the Principal Commissioner, finding the assessment order to be erroneous and prejudicial to the interest of Revenue due to lack of proper inquiry and verification by the Assessing Officer. The Tribunal directed the Assessing Officer to re-examine the genuineness of the loan transaction and dismissed the appeal of the assessee. Case-Laws Income Tax Mon, 31 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=376660