https://www.taxtmi.com/caselaws?id=377911 The Tribunal quashed the order passed under Section 263 of the Income Tax Act, holding that the Assessing Officer had conducted proper inquiries and examined relevant documents. The Principal Commissioner's observations were based on incorrect assumptions and did not consider detailed submissions by the assessee. The Tribunal ruled that the Principal Commissioner could not set aside the assessment order without specific discrepancies or defects. Therefore, the AO's assessment order allowing the deduction under Section 80IC was upheld, and the appeal of the assessee was allowed. en-us Fri, 29 Mar 2019 00:00:00 +0530 Thu, 04 Apr 2019 14:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377911 The Tribunal quashed the order passed under Section 263 of the Income Tax Act, holding that the Assessing Officer had conducted proper inquiries and examined relevant documents. The Principal Commissioner's observations were based on incorrect assumptions and did not consider detailed submissions by the assessee. The Tribunal ruled that the Principal Commissioner could not set aside the assessment order without specific discrepancies or defects. Therefore, the AO's assessment order allowing the deduction under Section 80IC was upheld, and the appeal of the assessee was allowed. Case-Laws Income Tax Fri, 29 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377911