https://www.taxtmi.com/caselaws?id=379969 The High Court upheld the Income Tax Appellate Tribunal's decision, ruling in favor of the Assessing Officer. The court found that the Assessing Officer had conducted proper inquiries and applied the law correctly in enhancing the trading income and assessing the genuineness of loans and capital. The court determined that the assessment order was not prejudicial to the interests of Revenue under Section 263 of the Income Tax Act, citing the need for sustainable legal grounds to establish prejudice. The appeal was dismissed as it did not raise any substantial question of law. en-us Fri, 29 Mar 2019 00:00:00 +0530 Tue, 21 Jul 2020 15:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=379969 The High Court upheld the Income Tax Appellate Tribunal's decision, ruling in favor of the Assessing Officer. The court found that the Assessing Officer had conducted proper inquiries and applied the law correctly in enhancing the trading income and assessing the genuineness of loans and capital. The court determined that the assessment order was not prejudicial to the interests of Revenue under Section 263 of the Income Tax Act, citing the need for sustainable legal grounds to establish prejudice. The appeal was dismissed as it did not raise any substantial question of law. Case-Laws Income Tax Fri, 29 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=379969