https://www.taxtmi.com/caselaws?id=411227 The Tribunal quashed the order passed by the Principal Commissioner of Income Tax (PCIT) under Section 263, holding that the Assessing Officer (AO) had conducted adequate inquiries. The Tribunal found that the AO's order was not erroneous or prejudicial to the interest of the Revenue. It was concluded that the PCIT failed to provide any incriminating evidence to support the receipt of on-money, and the appeals filed by the assessee were allowed. en-us Mon, 16 Aug 2021 00:00:00 +0530 Fri, 20 Aug 2021 17:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411227 The Tribunal quashed the order passed by the Principal Commissioner of Income Tax (PCIT) under Section 263, holding that the Assessing Officer (AO) had conducted adequate inquiries. The Tribunal found that the AO's order was not erroneous or prejudicial to the interest of the Revenue. It was concluded that the PCIT failed to provide any incriminating evidence to support the receipt of on-money, and the appeals filed by the assessee were allowed. Case-Laws Income Tax Mon, 16 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411227