https://www.taxtmi.com/caselaws?id=401669 The appeal against the order under section 263 for AY 2013-14 was dismissed by the Tribunal, upholding the PCIT's directive for a fresh assessment. The Tribunal found discrepancies in the assessment order regarding unsecured loans, rent payments, and professional fees, leading to the decision to reexamine the issues. While the loan repayment was verified adequately, other matters lacked proper inquiry. The AO was instructed to conduct a thorough investigation in the fresh assessment, emphasizing the need for meticulous inquiry and assessment procedures for fairness in tax matters. en-us Thu, 10 Dec 2020 00:00:00 +0530 Mon, 14 Dec 2020 09:55:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401669 The appeal against the order under section 263 for AY 2013-14 was dismissed by the Tribunal, upholding the PCIT's directive for a fresh assessment. The Tribunal found discrepancies in the assessment order regarding unsecured loans, rent payments, and professional fees, leading to the decision to reexamine the issues. While the loan repayment was verified adequately, other matters lacked proper inquiry. The AO was instructed to conduct a thorough investigation in the fresh assessment, emphasizing the need for meticulous inquiry and assessment procedures for fairness in tax matters. Case-Laws Income Tax Thu, 10 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401669