https://www.taxtmi.com/caselaws?id=430864 The Tribunal dismissed the assessee's appeal and upheld the Principal Commissioner of Income Tax's order under section 263 of the Income Tax Act. The Tribunal found that the assessing officer did not adequately verify the exemption claimed under section 10(1), leading to an erroneous assessment order. Citing a similar case from the Hon'ble Karnataka High Court, the Tribunal supported the Principal Commissioner's decision to invoke section 263, emphasizing the necessity of thorough verification in such matters. en-us Wed, 21 Sep 2022 00:00:00 +0530 Tue, 29 Nov 2022 18:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430864 The Tribunal dismissed the assessee's appeal and upheld the Principal Commissioner of Income Tax's order under section 263 of the Income Tax Act. The Tribunal found that the assessing officer did not adequately verify the exemption claimed under section 10(1), leading to an erroneous assessment order. Citing a similar case from the Hon'ble Karnataka High Court, the Tribunal supported the Principal Commissioner's decision to invoke section 263, emphasizing the necessity of thorough verification in such matters. Case-Laws Income Tax Wed, 21 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430864