https://www.taxtmi.com/caselaws?id=394023 The Tribunal quashed the proceedings initiated by the Pr.CIT under Section 263, allowing the appeal filed by the assessee. The order of the AO was upheld, emphasizing that the AO had conducted necessary enquiries and adopted a possible view. The Tribunal concluded that the twin conditions for invoking Section 263 were not satisfied as the order was not erroneous or prejudicial to the revenue's interest. en-us Tue, 03 Mar 2020 00:00:00 +0530 Wed, 24 Jun 2020 14:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394023 The Tribunal quashed the proceedings initiated by the Pr.CIT under Section 263, allowing the appeal filed by the assessee. The order of the AO was upheld, emphasizing that the AO had conducted necessary enquiries and adopted a possible view. The Tribunal concluded that the twin conditions for invoking Section 263 were not satisfied as the order was not erroneous or prejudicial to the revenue's interest. Case-Laws Income Tax Tue, 03 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394023