https://www.taxtmi.com/caselaws?id=389261 The Tribunal held that the Principal Commissioner of Income Tax (Pr. CIT) was not justified in invoking Section 263 to revise the assessment order as it was not deemed erroneous and prejudicial to the revenue. The original assessment order under Section 143(3) was reinstated, and the revisional order dated 19/03/2019 was quashed. The Tribunal found that the Assessing Officer had conducted a thorough assessment based on detailed responses from the assessee, concluding that the revisional jurisdiction exercised was not sustainable under the law. en-us Fri, 15 Nov 2019 00:00:00 +0530 Wed, 04 Dec 2019 12:59:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=389261 The Tribunal held that the Principal Commissioner of Income Tax (Pr. CIT) was not justified in invoking Section 263 to revise the assessment order as it was not deemed erroneous and prejudicial to the revenue. The original assessment order under Section 143(3) was reinstated, and the revisional order dated 19/03/2019 was quashed. The Tribunal found that the Assessing Officer had conducted a thorough assessment based on detailed responses from the assessee, concluding that the revisional jurisdiction exercised was not sustainable under the law. Case-Laws Income Tax Fri, 15 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=389261