https://www.taxtmi.com/caselaws?id=427844 The Tribunal ruled in favor of the assessee, finding that the Principal Commissioner's proceedings under section 263 of the Income Tax Act were not justified. The Tribunal held that the Assessing Officer had appropriately considered the genuineness of purchases during assessment proceedings, and the pending appeal before the Commissioner (Appeals) prevented re-agitation of issues. It concluded that the assessment order was not erroneous and rejected the Principal Commissioner's revisionary proceedings. en-us Fri, 16 Sep 2022 00:00:00 +0530 Mon, 19 Sep 2022 09:33:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427844 The Tribunal ruled in favor of the assessee, finding that the Principal Commissioner's proceedings under section 263 of the Income Tax Act were not justified. The Tribunal held that the Assessing Officer had appropriately considered the genuineness of purchases during assessment proceedings, and the pending appeal before the Commissioner (Appeals) prevented re-agitation of issues. It concluded that the assessment order was not erroneous and rejected the Principal Commissioner's revisionary proceedings. Case-Laws Income Tax Fri, 16 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427844