https://www.taxtmi.com/caselaws?id=434921 The Tribunal held that the Assessing Officer (AO) had conducted sufficient inquiries during the assessment, and the explanations provided by the assessee were reasonable and supported by historical data. The Tribunal overturned the Principal Commissioner of Income Tax's (PCIT) order, deeming it based on conjectures without proper evidence. The appeal of the assessee was successful, and the assessment order by the AO was upheld. en-us Mon, 02 Jan 2023 00:00:00 +0530 Mon, 06 Mar 2023 17:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=434921 The Tribunal held that the Assessing Officer (AO) had conducted sufficient inquiries during the assessment, and the explanations provided by the assessee were reasonable and supported by historical data. The Tribunal overturned the Principal Commissioner of Income Tax's (PCIT) order, deeming it based on conjectures without proper evidence. The appeal of the assessee was successful, and the assessment order by the AO was upheld. Case-Laws Income Tax Mon, 02 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434921