https://www.taxtmi.com/caselaws?id=385462 The Tribunal held that the Principal Commissioner of Income Tax's order did not meet the criteria of being erroneous and prejudicial to the revenue's interest. Consequently, the Tribunal set aside the PCIT's order under Section 263, ruling in favor of the appellant company. It was emphasized that the Assessing Officer had adequately considered the issues during assessment, and the PCIT's differing view did not warrant revising the AO's decision. en-us Fri, 23 Aug 2019 00:00:00 +0530 Wed, 06 Nov 2019 17:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=385462 The Tribunal held that the Principal Commissioner of Income Tax's order did not meet the criteria of being erroneous and prejudicial to the revenue's interest. Consequently, the Tribunal set aside the PCIT's order under Section 263, ruling in favor of the appellant company. It was emphasized that the Assessing Officer had adequately considered the issues during assessment, and the PCIT's differing view did not warrant revising the AO's decision. Case-Laws Income Tax Fri, 23 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=385462