https://www.taxtmi.com/caselaws?id=442846 The Tribunal allowed the Assessee's appeal, setting aside the Principal Commissioner of Income Tax's order under section 263. The Tribunal found that the assessing officer had diligently examined the alleged cash payment issue, and the PCIT erred in disregarding crucial evidence, including an affidavit from a third party. Emphasizing the importance of considering all evidence in assessment proceedings, the Tribunal ruled in favor of the Assessee, highlighting the incorrectness of the PCIT's intervention. The order under section 263 was quashed, providing relief to the Assessee in the case. en-us Wed, 14 Jun 2023 00:00:00 +0530 Tue, 12 Sep 2023 10:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=442846 The Tribunal allowed the Assessee's appeal, setting aside the Principal Commissioner of Income Tax's order under section 263. The Tribunal found that the assessing officer had diligently examined the alleged cash payment issue, and the PCIT erred in disregarding crucial evidence, including an affidavit from a third party. Emphasizing the importance of considering all evidence in assessment proceedings, the Tribunal ruled in favor of the Assessee, highlighting the incorrectness of the PCIT's intervention. The order under section 263 was quashed, providing relief to the Assessee in the case. Case-Laws Income Tax Wed, 14 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=442846