https://www.taxtmi.com/caselaws?id=398078 The Tribunal upheld the Principal Commissioner's order under section 263 of the Income Tax Act in both cases, dismissing the appeals in ITA No.421/PUN/2019 and ITA No.422/PUN/2019 for the assessment year 2011-12 on 03rd September 2020. The decision was based on the lack of factual examination by the Assessing Officer regarding the nexus between property acquisition and loan, following judicial pronouncements emphasizing the need for proper inquiry and evidence. en-us Thu, 03 Sep 2020 00:00:00 +0530 Sat, 05 Sep 2020 22:36:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398078 The Tribunal upheld the Principal Commissioner's order under section 263 of the Income Tax Act in both cases, dismissing the appeals in ITA No.421/PUN/2019 and ITA No.422/PUN/2019 for the assessment year 2011-12 on 03rd September 2020. The decision was based on the lack of factual examination by the Assessing Officer regarding the nexus between property acquisition and loan, following judicial pronouncements emphasizing the need for proper inquiry and evidence. Case-Laws Income Tax Thu, 03 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398078