https://www.taxtmi.com/caselaws?id=404745 The Tribunal set aside the Principal Commissioner of Income Tax's order issued under Section 263 of the Income Tax Act, 1961, as it failed to demonstrate the necessity for further verification by the Assessing Officer. The Tribunal found that the Assessing Officer had adequately examined and verified the claims made by the assessee, leading to the conclusion that the PCIT's assumption of revisionary powers was not in accordance with the law. Consequently, the Tribunal allowed the appeal of the assessee, with the order pronounced on 22.02.2021. en-us Mon, 22 Feb 2021 00:00:00 +0530 Wed, 03 Mar 2021 12:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404745 The Tribunal set aside the Principal Commissioner of Income Tax's order issued under Section 263 of the Income Tax Act, 1961, as it failed to demonstrate the necessity for further verification by the Assessing Officer. The Tribunal found that the Assessing Officer had adequately examined and verified the claims made by the assessee, leading to the conclusion that the PCIT's assumption of revisionary powers was not in accordance with the law. Consequently, the Tribunal allowed the appeal of the assessee, with the order pronounced on 22.02.2021. Case-Laws Income Tax Mon, 22 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404745