https://www.taxtmi.com/caselaws?id=55939 The Tribunal upheld the CIT's order under Section 263, finding the ITO's assessments erroneous and prejudicial to Revenue due to inadequate investigation into trusts created to evade taxes. The Tribunal held the CIT's order was within the extended limitation period, citing the McDowell case. The assessments were set aside, and the ITO was directed to conduct a thorough inquiry and issue fresh orders. Appeals were dismissed. en-us Mon, 24 Jul 1989 00:00:00 +0530 Tue, 30 Nov 2010 17:22:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55939 The Tribunal upheld the CIT's order under Section 263, finding the ITO's assessments erroneous and prejudicial to Revenue due to inadequate investigation into trusts created to evade taxes. The Tribunal held the CIT's order was within the extended limitation period, citing the McDowell case. The assessments were set aside, and the ITO was directed to conduct a thorough inquiry and issue fresh orders. Appeals were dismissed. Case-Laws Income Tax Mon, 24 Jul 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55939