https://www.taxtmi.com/caselaws?id=409729 The tribunal quashed the Principal Commissioner of Income Tax's order under Section 263, as it found the Assessing Officer's order was neither erroneous nor prejudicial to the Revenue's interest. The tribunal determined that the AO had conducted thorough inquiries during the assessment proceedings, including examining necessary documents such as Profit and Loss accounts and Form No. 10CCB. Consequently, the tribunal allowed the appeal filed by the assessee. en-us Mon, 12 Jul 2021 00:00:00 +0530 Thu, 15 Jul 2021 08:03:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409729 The tribunal quashed the Principal Commissioner of Income Tax's order under Section 263, as it found the Assessing Officer's order was neither erroneous nor prejudicial to the Revenue's interest. The tribunal determined that the AO had conducted thorough inquiries during the assessment proceedings, including examining necessary documents such as Profit and Loss accounts and Form No. 10CCB. Consequently, the tribunal allowed the appeal filed by the assessee. Case-Laws Income Tax Mon, 12 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409729