https://www.taxtmi.com/caselaws?id=18511 HC held that no question of law arose and upheld the Tribunal's approach that the Commissioner validly invoked s.263. The Commissioner was entitled to prima facie inquire whether the Revenue's interests suffered and found that the ITO had omitted necessary inquiries into the assessee's interest transactions and possible diversion of funds. The matter was remitted for further factual investigation by the ITO, since an assessment becomes "erroneous" under s.263 when required inquiries were not made. en-us Thu, 25 Aug 1994 00:00:00 +0530 Thu, 16 Oct 2025 18:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18511 HC held that no question of law arose and upheld the Tribunal's approach that the Commissioner validly invoked s.263. The Commissioner was entitled to prima facie inquire whether the Revenue's interests suffered and found that the ITO had omitted necessary inquiries into the assessee's interest transactions and possible diversion of funds. The matter was remitted for further factual investigation by the ITO, since an assessment becomes "erroneous" under s.263 when required inquiries were not made. Case-Laws Income Tax Thu, 25 Aug 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18511