https://www.taxtmi.com/caselaws?id=287886 The Tribunal held that the assessment order was not erroneous in invoking u/s 263 jurisdiction and disallowing the claim of setting off net business loss against other incomes. The appeal against the order of CIT(A)-II, Ludhiana, for the assessment year 2008-09 was allowed, quashing the reassessment direction. The Tribunal found that the inquiries made by the Assessing Officer were reasonable, even though not fully satisfying the Commissioner. The assessment order was deemed not prejudicial to the interest of Revenue, and the appeal was allowed based on relevant case law. en-us Mon, 24 Sep 2012 00:00:00 +0530 Thu, 07 May 2020 13:33:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=287886 The Tribunal held that the assessment order was not erroneous in invoking u/s 263 jurisdiction and disallowing the claim of setting off net business loss against other incomes. The appeal against the order of CIT(A)-II, Ludhiana, for the assessment year 2008-09 was allowed, quashing the reassessment direction. The Tribunal found that the inquiries made by the Assessing Officer were reasonable, even though not fully satisfying the Commissioner. The assessment order was deemed not prejudicial to the interest of Revenue, and the appeal was allowed based on relevant case law. Case-Laws Income Tax Mon, 24 Sep 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=287886