https://www.taxtmi.com/caselaws?id=390308 The Tribunal allowed the appeal, quashing the order passed under Section 263 of the Income Tax Act. It found that the Assessing Officer had conducted adequate inquiries and verifications, determining that the assessment order was not erroneous or prejudicial to revenue. The Tribunal emphasized the necessity for both conditions to be met for invoking Section 263 and cited relevant case law to support its decision. The judgment was pronounced on 13-12-2019. en-us Fri, 13 Dec 2019 00:00:00 +0530 Sun, 29 Dec 2019 09:38:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=390308 The Tribunal allowed the appeal, quashing the order passed under Section 263 of the Income Tax Act. It found that the Assessing Officer had conducted adequate inquiries and verifications, determining that the assessment order was not erroneous or prejudicial to revenue. The Tribunal emphasized the necessity for both conditions to be met for invoking Section 263 and cited relevant case law to support its decision. The judgment was pronounced on 13-12-2019. Case-Laws Income Tax Fri, 13 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=390308