https://www.taxtmi.com/caselaws?id=429261 The Tribunal allowed the appeals of the assessees, setting aside the orders of the Principal Commissioner of Income Tax and restoring the assessment orders. The Tribunal found that the Assessing Officer had conducted adequate inquiries, and the invocation of section 263 was unjustified. The Tribunal did not address the argument on the invalidity of the reassessments as the primary issue was resolved. The stay application was dismissed as infructuous. en-us Mon, 22 Aug 2022 00:00:00 +0530 Fri, 21 Oct 2022 07:25:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429261 The Tribunal allowed the appeals of the assessees, setting aside the orders of the Principal Commissioner of Income Tax and restoring the assessment orders. The Tribunal found that the Assessing Officer had conducted adequate inquiries, and the invocation of section 263 was unjustified. The Tribunal did not address the argument on the invalidity of the reassessments as the primary issue was resolved. The stay application was dismissed as infructuous. Case-Laws Income Tax Mon, 22 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429261