https://www.taxtmi.com/caselaws?id=389777 The Tribunal quashed the CIT's order under section 263, ruling in favor of the assessee. It held that the AO's assessment was not erroneous or prejudicial to revenue, as proper verification had been conducted. The Tribunal referenced legal precedents emphasizing the need for inquiries by the AO before revisional actions. The appeal was allowed, overturning the CIT's decision, with the order issued on 18/10/2019 in Ahmedabad. en-us Fri, 18 Oct 2019 00:00:00 +0530 Tue, 17 Dec 2019 14:44:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=389777 The Tribunal quashed the CIT's order under section 263, ruling in favor of the assessee. It held that the AO's assessment was not erroneous or prejudicial to revenue, as proper verification had been conducted. The Tribunal referenced legal precedents emphasizing the need for inquiries by the AO before revisional actions. The appeal was allowed, overturning the CIT's decision, with the order issued on 18/10/2019 in Ahmedabad. Case-Laws Income Tax Fri, 18 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=389777