PCIT Revises Assessment Order u/s 263 Due to AO's Failure to Initiate Penalty Proceedings u/s 271(1)(c. https://www.taxtmi.com/highlights?id=48315 Revision u/s 263 - AO not initiated Penalty u/s 271(1)(c) - assessment order passed u/s 143(3)is erroneous and prejudicial to the interest of revenue - Ld. PCIT was right in exercising the power conferred to him u/s 263 and setting aside the assessment order en-us Thu, 01 Aug 2019 06:27:28 +0530 Thu, 01 Aug 2019 06:27:28 +0530 TaxTMI RSS Generator PCIT Revises Assessment Order u/s 263 Due to AO's Failure to Initiate Penalty Proceedings u/s 271(1)(c. https://www.taxtmi.com/highlights?id=48315 Revision u/s 263 - AO not initiated Penalty u/s 271(1)(c) - assessment order passed u/s 143(3)is erroneous and prejudicial to the interest of revenue - Ld. PCIT was right in exercising the power conferred to him u/s 263 and setting aside the assessment order Highlights Income Tax Thu, 01 Aug 2019 06:27:28 +0530 https://www.taxtmi.com/highlights?id=48315