https://www.taxtmi.com/caselaws?id=301237 The Tribunal ruled in favor of the appellant, holding that the Commissioner of Income Tax (CIT) wrongly exercised jurisdiction under Section 263 of the Income Tax Act. The Tribunal emphasized that the CIT cannot substitute their opinion for that of the Assessing Officer (AO) and found that the AO had conducted proper enquiries before passing the assessment order. The Tribunal allowed the appeal, setting aside the CIT's order and highlighting the importance of adherence to legal standards in revising assessment orders. en-us Tue, 06 Jul 2021 00:00:00 +0530 Tue, 22 Mar 2022 08:57:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=301237 The Tribunal ruled in favor of the appellant, holding that the Commissioner of Income Tax (CIT) wrongly exercised jurisdiction under Section 263 of the Income Tax Act. The Tribunal emphasized that the CIT cannot substitute their opinion for that of the Assessing Officer (AO) and found that the AO had conducted proper enquiries before passing the assessment order. The Tribunal allowed the appeal, setting aside the CIT's order and highlighting the importance of adherence to legal standards in revising assessment orders. Case-Laws Income Tax Tue, 06 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=301237