https://www.taxtmi.com/caselaws?id=391649 The tribunal allowed the assessee's appeal, reversing the PCIT's assumption of Section 263 revision jurisdiction. The regular assessment was restored as the tribunal found that the PCIT's directions were not in compliance with legal precedents and exceeded the limited scrutiny scope under CASS. The tribunal emphasized that the conditions of an assessment being erroneous and prejudicial to Revenue must both be satisfied for invoking Section 263, ultimately ruling in favor of the assessee. en-us Fri, 31 Jan 2020 00:00:00 +0530 Mon, 03 Feb 2020 13:21:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391649 The tribunal allowed the assessee's appeal, reversing the PCIT's assumption of Section 263 revision jurisdiction. The regular assessment was restored as the tribunal found that the PCIT's directions were not in compliance with legal precedents and exceeded the limited scrutiny scope under CASS. The tribunal emphasized that the conditions of an assessment being erroneous and prejudicial to Revenue must both be satisfied for invoking Section 263, ultimately ruling in favor of the assessee. Case-Laws Income Tax Fri, 31 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391649