https://www.taxtmi.com/caselaws?id=418071 The tribunal partly upheld and partly quashed the proceedings under Section 263 of the Income Tax Act. The appeals were allowed or partly allowed based on specific issues related to jurisdiction, lack of inquiry by the Assessing Officer, validity of the Principal Commissioner of Income Tax's directions, and specific financial entries. The tribunal emphasized the importance of concrete findings and adequate inquiries by the Principal Commissioner before invoking Section 263, highlighting that mere differences in opinion or lack of substantial evidence do not justify such action. en-us Wed, 19 Jan 2022 00:00:00 +0530 Tue, 08 Feb 2022 06:54:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418071 The tribunal partly upheld and partly quashed the proceedings under Section 263 of the Income Tax Act. The appeals were allowed or partly allowed based on specific issues related to jurisdiction, lack of inquiry by the Assessing Officer, validity of the Principal Commissioner of Income Tax's directions, and specific financial entries. The tribunal emphasized the importance of concrete findings and adequate inquiries by the Principal Commissioner before invoking Section 263, highlighting that mere differences in opinion or lack of substantial evidence do not justify such action. Case-Laws Income Tax Wed, 19 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418071