https://www.taxtmi.com/caselaws?id=293977 The Tribunal held that the Principal Commissioner of Income Tax (CIT) lacked jurisdiction to revise the assessment orders under Section 263 as no incriminating material was found during the search. The Tribunal emphasized the necessity of incriminating material to make additions in non-abated years. The CIT's failure to conduct a preliminary inquiry and not revising the approval granted led to the quashing of the orders passed under Section 263, resulting in the appeals of the assessee being allowed. en-us Wed, 14 Feb 2018 00:00:00 +0530 Sat, 13 Mar 2021 08:39:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293977 The Tribunal held that the Principal Commissioner of Income Tax (CIT) lacked jurisdiction to revise the assessment orders under Section 263 as no incriminating material was found during the search. The Tribunal emphasized the necessity of incriminating material to make additions in non-abated years. The CIT's failure to conduct a preliminary inquiry and not revising the approval granted led to the quashing of the orders passed under Section 263, resulting in the appeals of the assessee being allowed. Case-Laws Income Tax Wed, 14 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293977