https://www.taxtmi.com/caselaws?id=430772 The Tribunal upheld the assessment order passed by the Assessing Officer (AO), rejecting the claim of business income by the assessee under Section 44AD of the Income Tax Act. The Tribunal found that the AO had conducted adequate inquiries and the PCIT's invocation of Section 263 was deemed erroneous. The Tribunal emphasized that the PCIT cannot impose his view on the AO and that the AO's decision was based on proper inquiries and application of mind. Therefore, the appeals of the assessees were allowed, and the AO's assessment order was upheld. en-us Fri, 28 Oct 2022 00:00:00 +0530 Mon, 28 Nov 2022 10:49:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430772 The Tribunal upheld the assessment order passed by the Assessing Officer (AO), rejecting the claim of business income by the assessee under Section 44AD of the Income Tax Act. The Tribunal found that the AO had conducted adequate inquiries and the PCIT's invocation of Section 263 was deemed erroneous. The Tribunal emphasized that the PCIT cannot impose his view on the AO and that the AO's decision was based on proper inquiries and application of mind. Therefore, the appeals of the assessees were allowed, and the AO's assessment order was upheld. Case-Laws Income Tax Fri, 28 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430772