https://www.taxtmi.com/caselaws?id=402225 The Tribunal upheld the Principal Commissioner of Income Tax's decision to quash the Assessing Officer's assessment order and direct a fresh assessment. It found that the Principal Commissioner acted within jurisdiction in invoking Section 263, as the Assessing Officer failed to conduct thorough inquiries, leading to an erroneous assessment. The Tribunal also justified the procedural delay in pronouncing the order due to exceptional circumstances caused by the COVID-19 lockdown. en-us Tue, 30 Jun 2020 00:00:00 +0530 Sat, 26 Dec 2020 11:19:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402225 The Tribunal upheld the Principal Commissioner of Income Tax's decision to quash the Assessing Officer's assessment order and direct a fresh assessment. It found that the Principal Commissioner acted within jurisdiction in invoking Section 263, as the Assessing Officer failed to conduct thorough inquiries, leading to an erroneous assessment. The Tribunal also justified the procedural delay in pronouncing the order due to exceptional circumstances caused by the COVID-19 lockdown. Case-Laws Income Tax Tue, 30 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402225