https://www.taxtmi.com/caselaws?id=430000 The Tribunal upheld the Principal Commissioner's decision under section 263 of the Income Tax Act, 1961, regarding an unsecured loan from M/s. Rams Estate for the assessment year 2016-17. The Tribunal found the original assessment order erroneous due to insufficient verification of the loan details, leading to a directive for a fresh assessment. Consequently, the Tribunal dismissed the appeal, affirming the need for a new assessment to be carried out in compliance with the law. en-us Fri, 04 Nov 2022 00:00:00 +0530 Wed, 09 Nov 2022 08:01:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430000 The Tribunal upheld the Principal Commissioner's decision under section 263 of the Income Tax Act, 1961, regarding an unsecured loan from M/s. Rams Estate for the assessment year 2016-17. The Tribunal found the original assessment order erroneous due to insufficient verification of the loan details, leading to a directive for a fresh assessment. Consequently, the Tribunal dismissed the appeal, affirming the need for a new assessment to be carried out in compliance with the law. Case-Laws Income Tax Fri, 04 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430000