https://www.taxtmi.com/caselaws?id=351919 The Tribunal allowed the assessee's appeal, ruling the Principal Commissioner of Income Tax's (PCIT) order under Section 263 invalid due to lack of independent inquiry and consideration of the assessee's submissions. The PCIT's directive for further verification was deemed unwarranted as the Assessing Officer had conducted thorough inquiries during the assessment proceedings. The Tribunal held that the PCIT had not adhered to principles of natural justice by ignoring the assessee's contentions, leading to the setting aside of the PCIT's order under Section 263. en-us Wed, 29 Nov 2017 00:00:00 +0530 Mon, 04 Dec 2017 08:14:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=351919 The Tribunal allowed the assessee's appeal, ruling the Principal Commissioner of Income Tax's (PCIT) order under Section 263 invalid due to lack of independent inquiry and consideration of the assessee's submissions. The PCIT's directive for further verification was deemed unwarranted as the Assessing Officer had conducted thorough inquiries during the assessment proceedings. The Tribunal held that the PCIT had not adhered to principles of natural justice by ignoring the assessee's contentions, leading to the setting aside of the PCIT's order under Section 263. Case-Laws Income Tax Wed, 29 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=351919