https://www.taxtmi.com/caselaws?id=399007 The Tribunal upheld the CIT's invocation of Section 263 for reexamination of unsecured loans and sundry creditors, but deemed the direction for further verification of stock valuation unjustified. The appeal was partly allowed, emphasizing the necessity for thorough inquiries by the AO in assessing liabilities and assets as required by the Income Tax Act. en-us Fri, 25 Sep 2020 00:00:00 +0530 Wed, 30 Sep 2020 13:05:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399007 The Tribunal upheld the CIT's invocation of Section 263 for reexamination of unsecured loans and sundry creditors, but deemed the direction for further verification of stock valuation unjustified. The appeal was partly allowed, emphasizing the necessity for thorough inquiries by the AO in assessing liabilities and assets as required by the Income Tax Act. Case-Laws Income Tax Fri, 25 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399007