Mere Submission of Documents Insufficient u/s 263, Proper Inquiry and Verification by AO Essential for Valid Assessment: ITAT [Read Order]
Considering that AO’s failure to properly verify the documents, ITAT set aside the original assessment
By Kavi Priya - On September 25, 2024 2:39 pm - 2 mins read
The Mumbai Bench of Income Tax Appellate Authority ( ITAT ) ruled that the mere submission of documents was not sufficient under Section 263 of the Income Tax Act, 1961. The tribunal emphasized that proper inquiry and verification by the assessing officer were essential for valid assessment. Ten Construction (India) Private Limited, the assessee’s assessment…
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