https://www.taxtmi.com/caselaws?id=378787 The High Court upheld the Tribunal's decision to quash the Commissioner's order under Section 263 of the Income Tax Act, 1961, regarding the assessment of an individual assessee's expenditure on CDs related to Jain Religion. The Court found that the Assessing Officer had conducted thorough inquiries and reached a plausible conclusion, leading to the dismissal of the Revenue's appeal. The Court determined that no legal question arose, ultimately dismissing the Income Tax Appeal and resolving the matter in favor of the respondent-assessee. en-us Mon, 28 Jan 2019 00:00:00 +0530 Mon, 22 Apr 2019 09:40:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=378787 The High Court upheld the Tribunal's decision to quash the Commissioner's order under Section 263 of the Income Tax Act, 1961, regarding the assessment of an individual assessee's expenditure on CDs related to Jain Religion. The Court found that the Assessing Officer had conducted thorough inquiries and reached a plausible conclusion, leading to the dismissal of the Revenue's appeal. The Court determined that no legal question arose, ultimately dismissing the Income Tax Appeal and resolving the matter in favor of the respondent-assessee. Case-Laws Income Tax Mon, 28 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=378787