https://www.taxtmi.com/caselaws?id=402879 The Tribunal found that the assumption of revisionary jurisdiction under Section 263 of the Income Tax Act by the Principal Commissioner was not justified. The issues raised, including contravention of Company Act provisions, reasonableness of director's remuneration, sale of immovable property, and undisclosed TDS, were deemed adequately addressed in the original assessment. The Tribunal emphasized the importance of proper diligence by the Assessing Officer and ruled in favor of the assessee, quashing the Commissioner's order and allowing the appeal. en-us Mon, 11 Jan 2021 00:00:00 +0530 Thu, 14 Jan 2021 11:40:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402879 The Tribunal found that the assumption of revisionary jurisdiction under Section 263 of the Income Tax Act by the Principal Commissioner was not justified. The issues raised, including contravention of Company Act provisions, reasonableness of director's remuneration, sale of immovable property, and undisclosed TDS, were deemed adequately addressed in the original assessment. The Tribunal emphasized the importance of proper diligence by the Assessing Officer and ruled in favor of the assessee, quashing the Commissioner's order and allowing the appeal. Case-Laws Income Tax Mon, 11 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402879