https://www.taxtmi.com/caselaws?id=387843 The Tribunal set aside the Principal Commissioner of Income Tax's order under Section 263, holding that the Assessing Officer had conducted sufficient inquiries and the assessment order was not erroneous or prejudicial to the Revenue. The Tribunal emphasized the necessity for the order to meet both criteria for invoking Section 263 and concluded that mere disagreement with the AO's conclusions does not warrant its application. The appeal of the assessee was allowed, and the original assessment order was restored. en-us Thu, 31 Oct 2019 00:00:00 +0530 Sat, 02 Nov 2019 20:43:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=387843 The Tribunal set aside the Principal Commissioner of Income Tax's order under Section 263, holding that the Assessing Officer had conducted sufficient inquiries and the assessment order was not erroneous or prejudicial to the Revenue. The Tribunal emphasized the necessity for the order to meet both criteria for invoking Section 263 and concluded that mere disagreement with the AO's conclusions does not warrant its application. The appeal of the assessee was allowed, and the original assessment order was restored. Case-Laws Income Tax Thu, 31 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=387843