https://www.taxtmi.com/caselaws?id=306297 The Tribunal concluded that the Principal Commissioner of Income Tax's invocation of Section 263 was not justified. It found that the Income Tax Officer had thoroughly examined the assessee's claim under Section 80P and had made a well-founded decision. The Tribunal noted that the Principal Commissioner had not conducted an independent inquiry to prove the assessment order was incorrect. Relying on legal precedents, the Tribunal overturned the Principal Commissioner's decision, upholding the Income Tax Officer's assessment order. en-us Tue, 28 Jun 2022 00:00:00 +0530 Fri, 20 Jan 2023 07:16:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306297 The Tribunal concluded that the Principal Commissioner of Income Tax's invocation of Section 263 was not justified. It found that the Income Tax Officer had thoroughly examined the assessee's claim under Section 80P and had made a well-founded decision. The Tribunal noted that the Principal Commissioner had not conducted an independent inquiry to prove the assessment order was incorrect. Relying on legal precedents, the Tribunal overturned the Principal Commissioner's decision, upholding the Income Tax Officer's assessment order. Case-Laws Income Tax Tue, 28 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306297