https://www.taxtmi.com/caselaws?id=365275 The Tribunal allowed the appeal, setting aside the Principal Commissioner of Income Tax's order under Section 263. It held that the Principal Commissioner lacked jurisdiction to revise the Assessing Officer's decision already under appeal. The Tribunal found the AO's disallowance of 25% of purchases reasonable and not erroneous. Additionally, the rushed issuance of the show cause notice violated principles of natural justice. The Tribunal emphasized procedural fairness and thorough consideration of all relevant materials. en-us Tue, 17 Jul 2018 00:00:00 +0530 Tue, 14 Aug 2018 07:43:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=365275 The Tribunal allowed the appeal, setting aside the Principal Commissioner of Income Tax's order under Section 263. It held that the Principal Commissioner lacked jurisdiction to revise the Assessing Officer's decision already under appeal. The Tribunal found the AO's disallowance of 25% of purchases reasonable and not erroneous. Additionally, the rushed issuance of the show cause notice violated principles of natural justice. The Tribunal emphasized procedural fairness and thorough consideration of all relevant materials. Case-Laws Income Tax Tue, 17 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=365275