https://www.taxtmi.com/caselaws?id=285151 The Tribunal allowed the appeal filed by the assessee, overturning the CIT's order under section 263 of the IT Act. The Tribunal found that the Assessing Officer had adequately examined the acquisition, cost, and use of the boiler based on information provided by the appellant, verified by statutory auditors and tax auditors. It concluded that the CIT's order lacked substantial evidence of error or prejudice to the Revenue's interests, emphasizing the importance of proper enquiry and justification in assessment orders to prevent unwarranted suspicions. en-us Mon, 31 Jan 1994 00:00:00 +0530 Mon, 30 Dec 2019 17:48:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=285151 The Tribunal allowed the appeal filed by the assessee, overturning the CIT's order under section 263 of the IT Act. The Tribunal found that the Assessing Officer had adequately examined the acquisition, cost, and use of the boiler based on information provided by the appellant, verified by statutory auditors and tax auditors. It concluded that the CIT's order lacked substantial evidence of error or prejudice to the Revenue's interests, emphasizing the importance of proper enquiry and justification in assessment orders to prevent unwarranted suspicions. Case-Laws Income Tax Mon, 31 Jan 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=285151