https://www.taxtmi.com/caselaws?id=306951 The High Court upheld the Tribunal's decision in dismissing the appeal filed by the revenue regarding the order passed under section 263 of the Income Tax Act, 1961 for the assessment year 2013-2014. The Court found that the assessing officer had conducted thorough inquiries as directed under Section 263, including summoning directors, and his view was reasonable. Additionally, the Court supported the Tribunal's conclusion that the revisionary power of the Principal Commissioner of Income Tax under Section 263 was not bad in law. The appeal was dismissed, and the application was disposed of. en-us Fri, 18 Nov 2022 00:00:00 +0530 Thu, 09 Mar 2023 00:00:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306951 The High Court upheld the Tribunal's decision in dismissing the appeal filed by the revenue regarding the order passed under section 263 of the Income Tax Act, 1961 for the assessment year 2013-2014. The Court found that the assessing officer had conducted thorough inquiries as directed under Section 263, including summoning directors, and his view was reasonable. Additionally, the Court supported the Tribunal's conclusion that the revisionary power of the Principal Commissioner of Income Tax under Section 263 was not bad in law. The appeal was dismissed, and the application was disposed of. Case-Laws Income Tax Fri, 18 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306951