https://www.taxtmi.com/caselaws?id=284873 The High Court upheld the Tribunal's decision to reject the Commissioner's order under section 263 of the Income Tax Act. The Court found that the Assessing Officer had conducted inquiries with the relevant applicants, and no failure in conducting inquiries was established. Consequently, the Tribunal's decision to support the Assessing Officer's actions, resulting in the addition of &8377;26 lacs due to bogus share application and premium investment, was affirmed. The Tax Appeal was dismissed as no legal issue arose from the Tribunal's decision. en-us Tue, 21 Jun 2016 00:00:00 +0530 Sat, 14 Dec 2019 14:28:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284873 The High Court upheld the Tribunal's decision to reject the Commissioner's order under section 263 of the Income Tax Act. The Court found that the Assessing Officer had conducted inquiries with the relevant applicants, and no failure in conducting inquiries was established. Consequently, the Tribunal's decision to support the Assessing Officer's actions, resulting in the addition of &8377;26 lacs due to bogus share application and premium investment, was affirmed. The Tax Appeal was dismissed as no legal issue arose from the Tribunal's decision. Case-Laws Income Tax Tue, 21 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284873