https://www.taxtmi.com/caselaws?id=391422 The Tribunal held that the Principal Commissioner of Income Tax erred in invoking section 263 without establishing the assessment order as erroneous and prejudicial to revenue. The Tribunal found that the conditions for invoking section 263 were not met as the Assessing Officer had conducted necessary inquiries. The Tribunal allowed the appeal, quashed the PCIT's order, and restored the assessment order passed by the AO. en-us Thu, 23 Jan 2020 00:00:00 +0530 Tue, 28 Jan 2020 10:13:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391422 The Tribunal held that the Principal Commissioner of Income Tax erred in invoking section 263 without establishing the assessment order as erroneous and prejudicial to revenue. The Tribunal found that the conditions for invoking section 263 were not met as the Assessing Officer had conducted necessary inquiries. The Tribunal allowed the appeal, quashed the PCIT's order, and restored the assessment order passed by the AO. Case-Laws Income Tax Thu, 23 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391422