https://www.taxtmi.com/caselaws?id=432239 The Tribunal quashed the order passed under Section 263 by the Ld. Principal CIT, holding it invalid and barred by limitation. It was found that the initiation of proceedings under Section 263 was unjustified as issues had already been examined by the Assessing Officer in the first round. The Tribunal concluded that the AO had conducted adequate inquiries and made necessary additions, making further revision unnecessary. Consequently, the appeal of the assessee was allowed. en-us Wed, 21 Dec 2022 00:00:00 +0530 Sat, 31 Dec 2022 08:45:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432239 The Tribunal quashed the order passed under Section 263 by the Ld. Principal CIT, holding it invalid and barred by limitation. It was found that the initiation of proceedings under Section 263 was unjustified as issues had already been examined by the Assessing Officer in the first round. The Tribunal concluded that the AO had conducted adequate inquiries and made necessary additions, making further revision unnecessary. Consequently, the appeal of the assessee was allowed. Case-Laws Income Tax Wed, 21 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432239