https://www.taxtmi.com/caselaws?id=445555 The Tribunal's decision to allow the assessee's appeal against the order under Section 263 of the Income Tax Act was upheld. The Tribunal determined that the assessing officer had conducted appropriate inquiries and accepted the genuineness of the cash deposit, rendering the assessment order neither erroneous nor prejudicial to the revenue's interest. Consequently, the exercise of powers under Section 263 was deemed unjustified. The appeal was dismissed, and no costs were imposed. en-us Mon, 21 Aug 2023 00:00:00 +0530 Fri, 10 Nov 2023 08:45:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=445555 The Tribunal's decision to allow the assessee's appeal against the order under Section 263 of the Income Tax Act was upheld. The Tribunal determined that the assessing officer had conducted appropriate inquiries and accepted the genuineness of the cash deposit, rendering the assessment order neither erroneous nor prejudicial to the revenue's interest. Consequently, the exercise of powers under Section 263 was deemed unjustified. The appeal was dismissed, and no costs were imposed. Case-Laws Income Tax Mon, 21 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=445555