https://www.taxtmi.com/caselaws?id=401058 The Tribunal quashed the Principal Commissioner of Income Tax's order passed under Section 263, finding that the Assessing Officer had conducted sufficient inquiries into the share transactions and accepted the explanations provided by the assessee. The Tribunal held that the Principal Commissioner had not conducted independent inquiries to prove the assessment order was erroneous. The appeal was allowed, and the original assessment order was reinstated. en-us Thu, 19 Nov 2020 00:00:00 +0530 Thu, 26 Nov 2020 11:10:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401058 The Tribunal quashed the Principal Commissioner of Income Tax's order passed under Section 263, finding that the Assessing Officer had conducted sufficient inquiries into the share transactions and accepted the explanations provided by the assessee. The Tribunal held that the Principal Commissioner had not conducted independent inquiries to prove the assessment order was erroneous. The appeal was allowed, and the original assessment order was reinstated. Case-Laws Income Tax Thu, 19 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401058