https://www.taxtmi.com/caselaws?id=392829 The Tribunal set aside the order of the Principal Commissioner of Income Tax passed under section 263 of the Income Tax Act, 1961, and restored the assessment order. The Tribunal concluded that the Assessing Officer had conducted a detailed examination of the issues and accepted the Assessee's explanations and documents. The Tribunal emphasized that the Principal Commissioner did not conduct any inquiry and merely rejected the Assessee's explanations without arriving at a definite finding. Both appeals of the Assessee were allowed, and the orders of the Principal Commissioner under section 263 were set aside, restoring the original assessment orders. en-us Wed, 26 Feb 2020 00:00:00 +0530 Sat, 29 Feb 2020 11:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392829 The Tribunal set aside the order of the Principal Commissioner of Income Tax passed under section 263 of the Income Tax Act, 1961, and restored the assessment order. The Tribunal concluded that the Assessing Officer had conducted a detailed examination of the issues and accepted the Assessee's explanations and documents. The Tribunal emphasized that the Principal Commissioner did not conduct any inquiry and merely rejected the Assessee's explanations without arriving at a definite finding. Both appeals of the Assessee were allowed, and the orders of the Principal Commissioner under section 263 were set aside, restoring the original assessment orders. Case-Laws Income Tax Wed, 26 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392829