https://www.taxtmi.com/caselaws?id=290684 The Tribunal dismissed the appeal, affirming the validity of the PCIT's order under Section 263 of the Income Tax Act, 1961. The AO's assessment was deemed erroneous and prejudicial to the Revenue due to the failure to consider material information regarding on-money payments. The Tribunal upheld the PCIT's jurisdiction, emphasizing the AO's non-compliance with CBDT instructions. The appeal was dismissed, and the PCIT's order was upheld, with the decision pronounced on 11th December 2019, in Chennai. en-us Wed, 11 Dec 2019 00:00:00 +0530 Thu, 14 Nov 2024 10:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290684 The Tribunal dismissed the appeal, affirming the validity of the PCIT's order under Section 263 of the Income Tax Act, 1961. The AO's assessment was deemed erroneous and prejudicial to the Revenue due to the failure to consider material information regarding on-money payments. The Tribunal upheld the PCIT's jurisdiction, emphasizing the AO's non-compliance with CBDT instructions. The appeal was dismissed, and the PCIT's order was upheld, with the decision pronounced on 11th December 2019, in Chennai. Case-Laws Income Tax Wed, 11 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290684