https://www.taxtmi.com/caselaws?id=300537 The Appellate Tribunal ITAT Kolkata consolidated appeals challenging orders passed by the Commissioners of Income-tax (CIT) under section 263 of the Income-tax Act, 1961 for different assessment years. The Tribunal upheld the impugned orders based on established legal principles and findings from previous cases, notably Subhlakshmi Vanijya Pvt. Ltd. The judgment emphasized the power of CIT to revise assessment orders, the importance of thorough inquiries by Assessing Officers, validity of notices served under section 263, and the impact of search proceedings on revision orders. Ultimately, both appeals were dismissed in line with previous conclusions and legal precedents. en-us Wed, 01 Mar 2017 00:00:00 +0530 Thu, 10 Feb 2022 08:53:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=300537 The Appellate Tribunal ITAT Kolkata consolidated appeals challenging orders passed by the Commissioners of Income-tax (CIT) under section 263 of the Income-tax Act, 1961 for different assessment years. The Tribunal upheld the impugned orders based on established legal principles and findings from previous cases, notably Subhlakshmi Vanijya Pvt. Ltd. The judgment emphasized the power of CIT to revise assessment orders, the importance of thorough inquiries by Assessing Officers, validity of notices served under section 263, and the impact of search proceedings on revision orders. Ultimately, both appeals were dismissed in line with previous conclusions and legal precedents. Case-Laws Income Tax Wed, 01 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=300537