https://www.taxtmi.com/caselaws?id=385141 The Tribunal found that the Principal Commissioner of Income Tax (Pr CIT) lacked jurisdiction to issue a notice and pass an order under section 263 as the assessment order was not both erroneous and prejudicial to the revenue. The Tribunal ruled in favor of the assessee, setting aside the Pr CIT's order and restoring the assessment order passed by the Assessing Officer under section 143(3). The appeal filed by the assessee was allowed, with the decision pronounced in open court on 28/08/2019. en-us Wed, 28 Aug 2019 00:00:00 +0530 Thu, 29 Aug 2019 12:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=385141 The Tribunal found that the Principal Commissioner of Income Tax (Pr CIT) lacked jurisdiction to issue a notice and pass an order under section 263 as the assessment order was not both erroneous and prejudicial to the revenue. The Tribunal ruled in favor of the assessee, setting aside the Pr CIT's order and restoring the assessment order passed by the Assessing Officer under section 143(3). The appeal filed by the assessee was allowed, with the decision pronounced in open court on 28/08/2019. Case-Laws Income Tax Wed, 28 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=385141