https://www.taxtmi.com/caselaws?id=34353 The High Court upheld the Tribunal's decision, stating that the Commissioner of Income Tax's jurisdiction under Section 263 should be exercised judiciously. The Court found that the Assessing Officer had thoroughly examined the accounts, made inquiries, and considered explanations provided by the assessee regarding share application money and unsecured loans. Consequently, the Court dismissed the Revenue's appeal, concluding that no substantial question of law arose from the Tribunal's findings. en-us Mon, 17 Aug 2009 00:00:00 +0530 Thu, 20 Aug 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=34353 The High Court upheld the Tribunal's decision, stating that the Commissioner of Income Tax's jurisdiction under Section 263 should be exercised judiciously. The Court found that the Assessing Officer had thoroughly examined the accounts, made inquiries, and considered explanations provided by the assessee regarding share application money and unsecured loans. Consequently, the Court dismissed the Revenue's appeal, concluding that no substantial question of law arose from the Tribunal's findings. Case-Laws Income Tax Mon, 17 Aug 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=34353