https://www.taxtmi.com/caselaws?id=399591 The High Court dismissed the Revenue's appeal under Section 260A of the Income Tax Act, 1961, against the Income Tax Appellate Tribunal's order. The Court upheld the assessment order challenged under Section 263, emphasizing that the Assessing Officer conducted necessary enquiries regarding fixed assets and unsecured loans. The Tribunal's decision, supported by legal precedents, concluded that the assessment order was not erroneous. The Court found no substantial questions of law and highlighted the significance of proper verification and compliance during assessment proceedings for the validity of the order. en-us Wed, 16 Sep 2020 00:00:00 +0530 Thu, 24 Dec 2020 17:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399591 The High Court dismissed the Revenue's appeal under Section 260A of the Income Tax Act, 1961, against the Income Tax Appellate Tribunal's order. The Court upheld the assessment order challenged under Section 263, emphasizing that the Assessing Officer conducted necessary enquiries regarding fixed assets and unsecured loans. The Tribunal's decision, supported by legal precedents, concluded that the assessment order was not erroneous. The Court found no substantial questions of law and highlighted the significance of proper verification and compliance during assessment proceedings for the validity of the order. Case-Laws Income Tax Wed, 16 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399591