https://www.taxtmi.com/caselaws?id=378600 The Court ruled in favor of the Assessee, holding that the Commissioner of Income Tax (CIT) did not correctly exercise powers under Section 263 of the Income Tax Act in cancelling the assessment order. The Court found that the CIT's order was not based on proper inquiry and that the Assessing Officer had conducted adequate investigations. Emphasizing the importance of consistency, the Court dismissed the appeals, noting that similar issues had been decided in favor of the Assessee in previous and subsequent assessment years. en-us Tue, 16 Apr 2019 00:00:00 +0530 Sat, 15 Jun 2019 12:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=378600 The Court ruled in favor of the Assessee, holding that the Commissioner of Income Tax (CIT) did not correctly exercise powers under Section 263 of the Income Tax Act in cancelling the assessment order. The Court found that the CIT's order was not based on proper inquiry and that the Assessing Officer had conducted adequate investigations. Emphasizing the importance of consistency, the Court dismissed the appeals, noting that similar issues had been decided in favor of the Assessee in previous and subsequent assessment years. Case-Laws Income Tax Tue, 16 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=378600