https://www.taxtmi.com/caselaws?id=396254 The Tribunal quashed the PCIT's order under Section 263 of the Income Tax Act, determining that the omission of clause (i) of Section 92BA by the Finance Act, 2017, without a saving clause, rendered the provision nonexistent. Consequently, the PCIT lacked jurisdiction to act under the omitted provision. The Tribunal allowed the assessees' appeals, emphasizing that omissions without saving clauses imply the provision was never part of the statute, thus invalidating any jurisdictional claims based on it. The decision focused on the technicality of omission, without delving into the substantive merits of the case. en-us Wed, 10 Jun 2020 00:00:00 +0530 Fri, 30 Aug 2024 10:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396254 The Tribunal quashed the PCIT's order under Section 263 of the Income Tax Act, determining that the omission of clause (i) of Section 92BA by the Finance Act, 2017, without a saving clause, rendered the provision nonexistent. Consequently, the PCIT lacked jurisdiction to act under the omitted provision. The Tribunal allowed the assessees' appeals, emphasizing that omissions without saving clauses imply the provision was never part of the statute, thus invalidating any jurisdictional claims based on it. The decision focused on the technicality of omission, without delving into the substantive merits of the case. Case-Laws Income Tax Wed, 10 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396254