https://www.taxtmi.com/caselaws?id=426676 The High Court upheld the Tribunal's decision, dismissing the revenue's appeal. It was concluded that the Assessing Officer had conducted proper inquiries before allowing deductions under Sections 36(1)(vii) and 36(1)(iii). The Court emphasized that the Commissioner of Income Tax could not invoke Section 263 based solely on the inadequacy of inquiry, as long as the Assessing Officer's view was sustainable in law. The appeal was deemed to lack any significant legal issue, and the Tribunal's findings were considered neither erroneous nor unreasonable. en-us Fri, 05 Aug 2022 00:00:00 +0530 Wed, 16 Aug 2023 10:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426676 The High Court upheld the Tribunal's decision, dismissing the revenue's appeal. It was concluded that the Assessing Officer had conducted proper inquiries before allowing deductions under Sections 36(1)(vii) and 36(1)(iii). The Court emphasized that the Commissioner of Income Tax could not invoke Section 263 based solely on the inadequacy of inquiry, as long as the Assessing Officer's view was sustainable in law. The appeal was deemed to lack any significant legal issue, and the Tribunal's findings were considered neither erroneous nor unreasonable. Case-Laws Income Tax Fri, 05 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426676