https://www.taxtmi.com/caselaws?id=294818 The Tribunal allowed the appeal of the assessee, setting aside the revision orders passed by the PCIT under Section 263. The Tribunal concluded that the AO had conducted adequate inquiries into the transactions with MSPL and that the reassessment proceedings were validly conducted. The PCIT's revision order was deemed unjustified as the PCIT failed to show that the assessment order was erroneous and prejudicial to the interests of revenue. en-us Fri, 21 Jun 2019 00:00:00 +0530 Tue, 04 May 2021 19:43:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294818 The Tribunal allowed the appeal of the assessee, setting aside the revision orders passed by the PCIT under Section 263. The Tribunal concluded that the AO had conducted adequate inquiries into the transactions with MSPL and that the reassessment proceedings were validly conducted. The PCIT's revision order was deemed unjustified as the PCIT failed to show that the assessment order was erroneous and prejudicial to the interests of revenue. Case-Laws Income Tax Fri, 21 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294818