https://www.taxtmi.com/caselaws?id=433466 The Tribunal allowed the appeal, setting aside the Principal Commissioner of Income Tax's order under Section 263. It held that the Assessing Officer had conducted adequate inquiries and made a reasoned decision based on evidence provided by the assessee. The Tribunal emphasized that the mere availability of two plausible views does not justify invoking Section 263. Consequently, the Tribunal found no errors in the assessment order regarding cash deposits, deductions under Section 80P, and other related issues, upholding the Assessing Officer's decisions. en-us Fri, 06 Jan 2023 00:00:00 +0530 Tue, 31 Jan 2023 08:33:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433466 The Tribunal allowed the appeal, setting aside the Principal Commissioner of Income Tax's order under Section 263. It held that the Assessing Officer had conducted adequate inquiries and made a reasoned decision based on evidence provided by the assessee. The Tribunal emphasized that the mere availability of two plausible views does not justify invoking Section 263. Consequently, the Tribunal found no errors in the assessment order regarding cash deposits, deductions under Section 80P, and other related issues, upholding the Assessing Officer's decisions. Case-Laws Income Tax Fri, 06 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433466