https://www.taxtmi.com/caselaws?id=193028 The Tribunal set aside the Principal Commissioner of Income Tax's order under section 263, ruling in favor of the assessee. It held that the Principal CIT's assumption of jurisdiction was not in accordance with the law, as the Assessing Officer had diligently considered the relevant material. The Tribunal emphasized that the Principal CIT cannot substitute his own judgment and that matters already decided by the CIT (Appeals) cannot be revisited under section 263. Consequently, the appeal of the assessee was successful, and the Principal CIT's order was overturned. en-us Tue, 15 Mar 2016 00:00:00 +0530 Mon, 10 Jul 2017 11:29:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=193028 The Tribunal set aside the Principal Commissioner of Income Tax's order under section 263, ruling in favor of the assessee. It held that the Principal CIT's assumption of jurisdiction was not in accordance with the law, as the Assessing Officer had diligently considered the relevant material. The Tribunal emphasized that the Principal CIT cannot substitute his own judgment and that matters already decided by the CIT (Appeals) cannot be revisited under section 263. Consequently, the appeal of the assessee was successful, and the Principal CIT's order was overturned. Case-Laws Income Tax Tue, 15 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=193028