Tribunal held that  the Principal Commissioner had wrongly asserted that the Assessing Officer did not examine the balance-sheet of the assessee and did not enquire into the commercial expediency of withdrawal of fund by the partners. The facts and figures assumed by the Principal Commissioner were found to be erroneous. The Assessing Officer had discharged his duty as an investigator. And his view as an adjudicator was based on the relevant material placed on record. While passing the assessment order the Assessing Officer did not follow a view which could be said to be “unsustainable in law”. Therefore, the action of the Principal Commissioner was without jurisdiction and “null” in the eyes of law. (AY.2015-16)