https://www.taxtmi.com/caselaws?id=425886 The Tribunal upheld the invocation of Section 263 by the Principal Commissioner of Income Tax due to the lack of proper inquiry by the Assessing Officer. The AO was directed to thoroughly examine issues such as income computation, contract receipt reconciliation, bank guarantee verification, and TDS compliance. The decision highlights the importance of detailed investigations in tax assessments to ensure accuracy and legal compliance. en-us Tue, 26 Jul 2022 00:00:00 +0530 Wed, 03 Aug 2022 08:55:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425886 The Tribunal upheld the invocation of Section 263 by the Principal Commissioner of Income Tax due to the lack of proper inquiry by the Assessing Officer. The AO was directed to thoroughly examine issues such as income computation, contract receipt reconciliation, bank guarantee verification, and TDS compliance. The decision highlights the importance of detailed investigations in tax assessments to ensure accuracy and legal compliance. Case-Laws Income Tax Tue, 26 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425886