https://www.taxtmi.com/caselaws?id=294230 The Tribunal held that the Commissioner's initiation of proceedings under Section 263 was legally infirm and beyond jurisdiction. It emphasized that the Commissioner must base decisions on the record available at the time of initiation and not on subsequent inquiries. The Tribunal set aside the Commissioner's order, allowing the assessee's appeal, as it found that the AO had conducted adequate inquiries during the assessment, and the Commissioner's action was not justified. en-us Mon, 12 Mar 2018 00:00:00 +0530 Mon, 29 Mar 2021 19:25:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294230 The Tribunal held that the Commissioner's initiation of proceedings under Section 263 was legally infirm and beyond jurisdiction. It emphasized that the Commissioner must base decisions on the record available at the time of initiation and not on subsequent inquiries. The Tribunal set aside the Commissioner's order, allowing the assessee's appeal, as it found that the AO had conducted adequate inquiries during the assessment, and the Commissioner's action was not justified. Case-Laws Income Tax Mon, 12 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294230