https://www.taxtmi.com/caselaws?id=392275 The tribunal allowed the Assessee's appeal, setting aside the order under Section 263 of the Income Tax Act, 1961, and restoring the original assessment order. The tribunal found that the Assessing Officer had conducted necessary inquiries and verifications, and the revisional authority had not provided sufficient grounds to prove the assessment order was erroneous and prejudicial to revenue. The tribunal emphasized that all issues had been examined during the original assessment, leading to the invalidation of the invocation of Section 263. en-us Fri, 14 Feb 2020 00:00:00 +0530 Fri, 13 Mar 2020 17:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392275 The tribunal allowed the Assessee's appeal, setting aside the order under Section 263 of the Income Tax Act, 1961, and restoring the original assessment order. The tribunal found that the Assessing Officer had conducted necessary inquiries and verifications, and the revisional authority had not provided sufficient grounds to prove the assessment order was erroneous and prejudicial to revenue. The tribunal emphasized that all issues had been examined during the original assessment, leading to the invalidation of the invocation of Section 263. Case-Laws Income Tax Fri, 14 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392275