https://www.taxtmi.com/caselaws?id=274958 The Tribunal held that the Principal CIT did not validly exercise jurisdiction under section 263 of the IT Act. The assessment order dated 28th Feb., 2014, was set aside, and the appeal by the assessee was allowed. The Tribunal found that the AO had conducted a thorough enquiry, considered the material on record, and the Principal CIT did not provide specific reasons for deeming the assessment order erroneous and prejudicial to the interest of Revenue. en-us Mon, 22 May 2017 00:00:00 +0530 Wed, 12 Sep 2018 14:49:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=274958 The Tribunal held that the Principal CIT did not validly exercise jurisdiction under section 263 of the IT Act. The assessment order dated 28th Feb., 2014, was set aside, and the appeal by the assessee was allowed. The Tribunal found that the AO had conducted a thorough enquiry, considered the material on record, and the Principal CIT did not provide specific reasons for deeming the assessment order erroneous and prejudicial to the interest of Revenue. Case-Laws Income Tax Mon, 22 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=274958