https://www.taxtmi.com/caselaws?id=406684 The Tribunal held that the Principal Commissioner of Income Tax (PCIT) did not have jurisdiction under Section 263 to revise the assessment order. It was determined that the Assessing Officer (AO) had appropriately examined the issue of deduction under Section 80P(2)(d), and the PCIT could not invoke Section 263 based on a different interpretation. The Tribunal ruled in favor of the assessee, allowing the appeal and setting aside the PCIT's revision order. The decision emphasized that the AO's order was reasonable and supported by relevant precedents from the jurisdictional High Court. en-us Wed, 03 Mar 2021 00:00:00 +0530 Wed, 21 Apr 2021 08:16:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406684 The Tribunal held that the Principal Commissioner of Income Tax (PCIT) did not have jurisdiction under Section 263 to revise the assessment order. It was determined that the Assessing Officer (AO) had appropriately examined the issue of deduction under Section 80P(2)(d), and the PCIT could not invoke Section 263 based on a different interpretation. The Tribunal ruled in favor of the assessee, allowing the appeal and setting aside the PCIT's revision order. The decision emphasized that the AO's order was reasonable and supported by relevant precedents from the jurisdictional High Court. Case-Laws Income Tax Wed, 03 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406684