https://www.taxtmi.com/caselaws?id=390026 The Tribunal allowed the assessee's appeals, quashing the orders passed under section 263 for the assessment years 2012-13 and 2013-14. The Tribunal found that the Principal Commissioner of Income-tax did not conduct independent inquiries to prove the assessment order was erroneous. Additionally, the Tribunal held that the business had commenced, distinguishing the case from the precedent cited by the Revenue. Therefore, the orders under section 263 were set aside, favoring the assessee. en-us Wed, 18 Dec 2019 00:00:00 +0530 Fri, 17 Jan 2020 17:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=390026 The Tribunal allowed the assessee's appeals, quashing the orders passed under section 263 for the assessment years 2012-13 and 2013-14. The Tribunal found that the Principal Commissioner of Income-tax did not conduct independent inquiries to prove the assessment order was erroneous. Additionally, the Tribunal held that the business had commenced, distinguishing the case from the precedent cited by the Revenue. Therefore, the orders under section 263 were set aside, favoring the assessee. Case-Laws Income Tax Wed, 18 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=390026