https://www.taxtmi.com/caselaws?id=398154 The ITAT ruled that the PCIT wrongly exercised revision jurisdiction under Section 263 of the Income Tax Act. The AO had made adequate inquiries, and the PCIT did not provide sufficient reasons to deem the AO's order erroneous and prejudicial to the interest of Revenue. The Tribunal quashed the PCIT's order and allowed the assessee's appeal. en-us Fri, 28 Feb 2020 00:00:00 +0530 Tue, 08 Sep 2020 10:30:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398154 The ITAT ruled that the PCIT wrongly exercised revision jurisdiction under Section 263 of the Income Tax Act. The AO had made adequate inquiries, and the PCIT did not provide sufficient reasons to deem the AO's order erroneous and prejudicial to the interest of Revenue. The Tribunal quashed the PCIT's order and allowed the assessee's appeal. Case-Laws Income Tax Fri, 28 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398154