https://www.taxtmi.com/caselaws?id=425656 The Tribunal ruled in favor of the assessee in a case concerning the validity of invoking jurisdiction under section 263 of the Income Tax Act, the allowability of remuneration paid to a working partner who is also a part-time teacher, and the adequacy of verification by the Assessing Officer. The Tribunal set aside the Principal Commissioner's order, holding that the initiation of proceedings under section 263 was not valid, the remuneration to the working partner was justified, and the Assessing Officer's verification was deemed adequate. en-us Fri, 22 Jul 2022 00:00:00 +0530 Thu, 28 Jul 2022 13:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425656 The Tribunal ruled in favor of the assessee in a case concerning the validity of invoking jurisdiction under section 263 of the Income Tax Act, the allowability of remuneration paid to a working partner who is also a part-time teacher, and the adequacy of verification by the Assessing Officer. The Tribunal set aside the Principal Commissioner's order, holding that the initiation of proceedings under section 263 was not valid, the remuneration to the working partner was justified, and the Assessing Officer's verification was deemed adequate. Case-Laws Income Tax Fri, 22 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425656