https://www.taxtmi.com/caselaws?id=425441 The Tribunal quashed the order of the Ld. PCIT, setting aside the assessment under Section 263 of the Income Tax Act. The Tribunal found that the AO had conducted proper inquiries and accepted the assessee's claims with supporting evidence. The Ld. PCIT's decision was deemed arbitrary and lacking substantial evidence, leading to the appeal of the assessee being allowed. en-us Wed, 06 Jul 2022 00:00:00 +0530 Sat, 23 Jul 2022 09:03:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425441 The Tribunal quashed the order of the Ld. PCIT, setting aside the assessment under Section 263 of the Income Tax Act. The Tribunal found that the AO had conducted proper inquiries and accepted the assessee's claims with supporting evidence. The Ld. PCIT's decision was deemed arbitrary and lacking substantial evidence, leading to the appeal of the assessee being allowed. Case-Laws Income Tax Wed, 06 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425441