https://www.taxtmi.com/caselaws?id=353070 The Tribunal held that the Principal Commissioner of Income-tax's ex-parte order under Section 263 was invalid as it lacked proper examination of assessment records. It determined that the Assessing Officer's order was not erroneous or prejudicial to Revenue, emphasizing the necessity for both conditions under Section 263. The Tribunal set aside the PCIT's order, ruling in favor of the assessee and deeming the revision order beyond the section's scope and thus invalid. The appeal was allowed on December 20, 2017. en-us Wed, 20 Dec 2017 00:00:00 +0530 Wed, 27 Dec 2017 09:53:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=353070 The Tribunal held that the Principal Commissioner of Income-tax's ex-parte order under Section 263 was invalid as it lacked proper examination of assessment records. It determined that the Assessing Officer's order was not erroneous or prejudicial to Revenue, emphasizing the necessity for both conditions under Section 263. The Tribunal set aside the PCIT's order, ruling in favor of the assessee and deeming the revision order beyond the section's scope and thus invalid. The appeal was allowed on December 20, 2017. Case-Laws Income Tax Wed, 20 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=353070