https://www.taxtmi.com/caselaws?id=426428 The Tribunal found the Principal Commissioner of Income Tax's invocation of Section 263 unjustified, as the Assessing Officer had conducted a detailed inquiry before allowing the deduction under Section 54F. The Tribunal upheld the deduction claimed by the assessee and the adequacy of the inquiry conducted by the Assessing Officer, quashing the PCIT's order under Section 263 and affirming the assessment order passed by the AO under Section 143(3). en-us Thu, 21 Jul 2022 00:00:00 +0530 Mon, 09 Jan 2023 15:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426428 The Tribunal found the Principal Commissioner of Income Tax's invocation of Section 263 unjustified, as the Assessing Officer had conducted a detailed inquiry before allowing the deduction under Section 54F. The Tribunal upheld the deduction claimed by the assessee and the adequacy of the inquiry conducted by the Assessing Officer, quashing the PCIT's order under Section 263 and affirming the assessment order passed by the AO under Section 143(3). Case-Laws Income Tax Thu, 21 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426428