https://www.taxtmi.com/caselaws?id=293252 The Tribunal allowed the appeal, setting aside the Principal Commissioner's order under section 263 of the Income Tax Act. The Tribunal found that the original assessment order was reasoned and based on thorough inquiries, dismissing the allegations of erroneous assessment and lack of adequate hearing. It emphasized that the revisionary power under section 263 is triggered only when there is a lack of proper inquiry or investigation, which was not the case here. en-us Mon, 27 Jan 2020 00:00:00 +0530 Tue, 02 Feb 2021 14:02:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293252 The Tribunal allowed the appeal, setting aside the Principal Commissioner's order under section 263 of the Income Tax Act. The Tribunal found that the original assessment order was reasoned and based on thorough inquiries, dismissing the allegations of erroneous assessment and lack of adequate hearing. It emphasized that the revisionary power under section 263 is triggered only when there is a lack of proper inquiry or investigation, which was not the case here. Case-Laws Income Tax Mon, 27 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293252