https://www.taxtmi.com/caselaws?id=402967 The Tribunal held that the Principal Commissioner of Income Tax wrongly assumed jurisdiction under Section 263 of the Income Tax Act, as the assessment orders were found to be neither erroneous nor prejudicial to the interest of the revenue. The Tribunal quashed the PCIT's orders and restored the original assessment orders, ruling in favor of the assessee(s) in the appeals. en-us Wed, 13 Jan 2021 00:00:00 +0530 Sat, 16 Jan 2021 11:06:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402967 The Tribunal held that the Principal Commissioner of Income Tax wrongly assumed jurisdiction under Section 263 of the Income Tax Act, as the assessment orders were found to be neither erroneous nor prejudicial to the interest of the revenue. The Tribunal quashed the PCIT's orders and restored the original assessment orders, ruling in favor of the assessee(s) in the appeals. Case-Laws Income Tax Wed, 13 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402967