https://www.taxtmi.com/caselaws?id=403824 The Tribunal allowed the appeal, quashing the order under section 263 of the Income Tax Act, 1961. It held that the Assessing Officer had conducted proper inquiries, rendering the Principal Commissioner's invocation of section 263 unjustified. Consequently, the addition of Rs. 54,45,757/- as accrued interest was not addressed on merit due to the annulment of the section 263 proceedings. en-us Thu, 07 Jan 2021 00:00:00 +0530 Tue, 09 Feb 2021 10:23:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403824 The Tribunal allowed the appeal, quashing the order under section 263 of the Income Tax Act, 1961. It held that the Assessing Officer had conducted proper inquiries, rendering the Principal Commissioner's invocation of section 263 unjustified. Consequently, the addition of Rs. 54,45,757/- as accrued interest was not addressed on merit due to the annulment of the section 263 proceedings. Case-Laws Income Tax Thu, 07 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403824