https://www.taxtmi.com/caselaws?id=283512 The Tribunal dismissed the appellant's appeal, upholding the Principal Commissioner of Income Tax's decision to set aside the Assessing Officer's order under section 263 of the Income Tax Act. The Tribunal found that the Assessing Officer failed to conduct sufficient inquiries into suspicious long-term capital gain transactions, supporting the intervention of the Principal Commissioner. The decision underscored the significance of thorough investigations and adherence to procedural requirements in cases involving potential tax evasion through suspicious transactions. en-us Thu, 31 Jan 2019 00:00:00 +0530 Thu, 26 Sep 2019 13:02:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283512 The Tribunal dismissed the appellant's appeal, upholding the Principal Commissioner of Income Tax's decision to set aside the Assessing Officer's order under section 263 of the Income Tax Act. The Tribunal found that the Assessing Officer failed to conduct sufficient inquiries into suspicious long-term capital gain transactions, supporting the intervention of the Principal Commissioner. The decision underscored the significance of thorough investigations and adherence to procedural requirements in cases involving potential tax evasion through suspicious transactions. Case-Laws Income Tax Thu, 31 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283512