https://www.taxtmi.com/caselaws?id=388757 The Income Tax Appellate Tribunal (ITAT) upheld the Principal Commissioner of Income Tax's (Pr. CIT) order under Section 263, finding that the Assessing Officer's (AO) assessment was erroneous and prejudicial to the revenue due to inadequate verification and inquiry. The ITAT concluded that the AO had not properly verified various crucial aspects during the assessment proceedings, leading to the dismissal of the assessee's appeal. The assessee was granted the opportunity to seek restoration of the appeal before the ITAT if required. en-us Wed, 20 Nov 2019 00:00:00 +0530 Thu, 21 Nov 2019 18:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=388757 The Income Tax Appellate Tribunal (ITAT) upheld the Principal Commissioner of Income Tax's (Pr. CIT) order under Section 263, finding that the Assessing Officer's (AO) assessment was erroneous and prejudicial to the revenue due to inadequate verification and inquiry. The ITAT concluded that the AO had not properly verified various crucial aspects during the assessment proceedings, leading to the dismissal of the assessee's appeal. The assessee was granted the opportunity to seek restoration of the appeal before the ITAT if required. Case-Laws Income Tax Wed, 20 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=388757