https://www.taxtmi.com/caselaws?id=436357 The Tribunal found that the Principal Commissioner of Income Tax was not justified in initiating proceedings under Section 263 of the Income Tax Act. The assessment order by the Assessing Officer was deemed proper, with necessary inquiries conducted. The Tribunal ruled in favor of the assessee, quashing the Section 263 proceedings and upholding the assessment order. All grounds of appeal were allowed, leading to a favorable outcome for the assessee. en-us Wed, 29 Mar 2023 00:00:00 +0530 Mon, 18 Sep 2023 11:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=436357 The Tribunal found that the Principal Commissioner of Income Tax was not justified in initiating proceedings under Section 263 of the Income Tax Act. The assessment order by the Assessing Officer was deemed proper, with necessary inquiries conducted. The Tribunal ruled in favor of the assessee, quashing the Section 263 proceedings and upholding the assessment order. All grounds of appeal were allowed, leading to a favorable outcome for the assessee. Case-Laws Income Tax Wed, 29 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=436357