https://www.taxtmi.com/caselaws?id=418134 The tribunal allowed the appeal of the assessee, setting aside the Principal Commissioner of Income Tax's order invoking Section 263 of the Income Tax Act. The tribunal determined that the Assessing Officer had conducted a thorough inquiry and reached a reasonable conclusion, making the revisionary powers under Section 263 unnecessary. The decision referenced various judicial precedents to support the finding. Consequently, the order of the Principal Commissioner was overturned, and the assessee's appeal was successful. en-us Fri, 28 Jan 2022 00:00:00 +0530 Wed, 09 Feb 2022 05:44:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418134 The tribunal allowed the appeal of the assessee, setting aside the Principal Commissioner of Income Tax's order invoking Section 263 of the Income Tax Act. The tribunal determined that the Assessing Officer had conducted a thorough inquiry and reached a reasonable conclusion, making the revisionary powers under Section 263 unnecessary. The decision referenced various judicial precedents to support the finding. Consequently, the order of the Principal Commissioner was overturned, and the assessee's appeal was successful. Case-Laws Income Tax Fri, 28 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418134