https://www.taxtmi.com/caselaws?id=390030 The Tribunal held that the Assessing Officer's order was neither erroneous nor prejudicial to the Revenue's interest. It quashed the Principal Commissioner of Income Tax's order under section 263, allowing the assessee's appeal. The Tribunal emphasized the AO's thorough inquiry into labour charges and capital introduction, stating that the assessment was made based on a detailed scrutiny of all relevant aspects, meeting the requirements of section 142(1). en-us Wed, 18 Dec 2019 00:00:00 +0530 Sun, 22 Dec 2019 07:44:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=390030 The Tribunal held that the Assessing Officer's order was neither erroneous nor prejudicial to the Revenue's interest. It quashed the Principal Commissioner of Income Tax's order under section 263, allowing the assessee's appeal. The Tribunal emphasized the AO's thorough inquiry into labour charges and capital introduction, stating that the assessment was made based on a detailed scrutiny of all relevant aspects, meeting the requirements of section 142(1). Case-Laws Income Tax Wed, 18 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=390030