https://www.taxtmi.com/caselaws?id=353194 The Tribunal held that the Principal Commissioner of Income Tax erred in assuming jurisdiction under Section 263 to revise the assessment order as no incriminating material was found during the search. Consequently, the appeal was allowed, setting aside the order of the Principal Commissioner. The Tribunal did not address the merits of the addition of gifts, as the invalid assumption of jurisdiction was deemed sufficient to dispose of the appeal. en-us Thu, 21 Sep 2017 00:00:00 +0530 Fri, 29 Dec 2017 08:45:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=353194 The Tribunal held that the Principal Commissioner of Income Tax erred in assuming jurisdiction under Section 263 to revise the assessment order as no incriminating material was found during the search. Consequently, the appeal was allowed, setting aside the order of the Principal Commissioner. The Tribunal did not address the merits of the addition of gifts, as the invalid assumption of jurisdiction was deemed sufficient to dispose of the appeal. Case-Laws Income Tax Thu, 21 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=353194