https://www.taxtmi.com/caselaws?id=429830 The High Court found discrepancies in interest income and other incomes were not reconciled during assessment proceedings, leading to the Assessing Officer's order being deemed prejudicial to revenue's interests. The Principal Commissioner's order under section 263 lacked reasoning and failed to address submissions, rendering it non-speaking. The CIT's decision to set aside the assessment order without findings was questioned. The Court remanded the matter back to the Principal Commissioner for fresh consideration, granting the appellant the opportunity to submit additional information for a new decision with proper reasoning. en-us Thu, 03 Nov 2022 00:00:00 +0530 Sat, 05 Nov 2022 08:30:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429830 The High Court found discrepancies in interest income and other incomes were not reconciled during assessment proceedings, leading to the Assessing Officer's order being deemed prejudicial to revenue's interests. The Principal Commissioner's order under section 263 lacked reasoning and failed to address submissions, rendering it non-speaking. The CIT's decision to set aside the assessment order without findings was questioned. The Court remanded the matter back to the Principal Commissioner for fresh consideration, granting the appellant the opportunity to submit additional information for a new decision with proper reasoning. Case-Laws Income Tax Thu, 03 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429830