https://www.taxtmi.com/caselaws?id=428672 The tribunal found that the Assessing Officer (AO) had conducted adequate inquiries and verifications before passing the assessment order, concluding that the order was not erroneous or prejudicial to the Revenue's interest. The Principal Commissioner of Income Tax's decision to set aside the AO's order under section 263 was deemed unjustified. As a result, the appeal by the assessee was allowed, and the Principal Commissioner's order was quashed. The court pronounced the decision on 03/10/2022 in Ahmedabad. en-us Mon, 03 Oct 2022 00:00:00 +0530 Fri, 07 Oct 2022 13:10:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428672 The tribunal found that the Assessing Officer (AO) had conducted adequate inquiries and verifications before passing the assessment order, concluding that the order was not erroneous or prejudicial to the Revenue's interest. The Principal Commissioner of Income Tax's decision to set aside the AO's order under section 263 was deemed unjustified. As a result, the appeal by the assessee was allowed, and the Principal Commissioner's order was quashed. The court pronounced the decision on 03/10/2022 in Ahmedabad. Case-Laws Income Tax Mon, 03 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428672