https://www.taxtmi.com/caselaws?id=419854 The Tribunal overturned the Principal Commissioner's order under section 263 of the Income-tax Act for the assessment year 2012-13, finding it invalid due to insufficient reasoning. The Assessing Officer's detailed inquiries and assessment process were deemed appropriate, leading to the restoration of the original assessment order. The Tribunal held that the Principal Commissioner's attempt to substitute his judgment lacked justification, resulting in the quashing of the order and upholding of the assessment. en-us Wed, 16 Mar 2022 00:00:00 +0530 Tue, 22 Mar 2022 08:59:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419854 The Tribunal overturned the Principal Commissioner's order under section 263 of the Income-tax Act for the assessment year 2012-13, finding it invalid due to insufficient reasoning. The Assessing Officer's detailed inquiries and assessment process were deemed appropriate, leading to the restoration of the original assessment order. The Tribunal held that the Principal Commissioner's attempt to substitute his judgment lacked justification, resulting in the quashing of the order and upholding of the assessment. Case-Laws Income Tax Wed, 16 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419854