https://www.taxtmi.com/caselaws?id=402414 The Tribunal upheld the Principal CIT's revision order under section 263 of the Income-tax Act, 1961, dismissing the appellant's appeal. The assessment order for the year 2014-15 was deemed erroneous and prejudicial to the revenue's interests due to the AO's failure to investigate the appellant's claim for "provision for warranty expenses." The Tribunal found no infirmity in the Principal CIT's decision to set aside the assessment and direct the AO to re-examine the issues. The appeal was dismissed, affirming the necessity for proper inquiry into the appellant's claims. en-us Tue, 20 Oct 2020 00:00:00 +0530 Mon, 04 Nov 2024 11:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402414 The Tribunal upheld the Principal CIT's revision order under section 263 of the Income-tax Act, 1961, dismissing the appellant's appeal. The assessment order for the year 2014-15 was deemed erroneous and prejudicial to the revenue's interests due to the AO's failure to investigate the appellant's claim for "provision for warranty expenses." The Tribunal found no infirmity in the Principal CIT's decision to set aside the assessment and direct the AO to re-examine the issues. The appeal was dismissed, affirming the necessity for proper inquiry into the appellant's claims. Case-Laws Income Tax Tue, 20 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402414