https://www.taxtmi.com/caselaws?id=443807 The Tribunal upheld the Principal Commissioner of Income Tax's decision to exercise the power of revision under section 263, finding that the Assessing Officer failed to conduct necessary enquiries regarding the expenditure claimed by the appellant trust. The absence of vouchers during survey proceedings indicated inadequate verification of the expenditure, rendering the assessment order erroneous and prejudicial to the Revenue's interests. Consequently, the Tribunal dismissed all ten appeals collectively, affirming the orders of the Principal Commissioner of Income Tax. en-us Tue, 26 Sep 2023 00:00:00 +0530 Tue, 03 Oct 2023 08:39:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=443807 The Tribunal upheld the Principal Commissioner of Income Tax's decision to exercise the power of revision under section 263, finding that the Assessing Officer failed to conduct necessary enquiries regarding the expenditure claimed by the appellant trust. The absence of vouchers during survey proceedings indicated inadequate verification of the expenditure, rendering the assessment order erroneous and prejudicial to the Revenue's interests. Consequently, the Tribunal dismissed all ten appeals collectively, affirming the orders of the Principal Commissioner of Income Tax. Case-Laws Income Tax Tue, 26 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=443807