https://www.taxtmi.com/caselaws?id=408039 The Tribunal allowed the appeal, ruling in favor of the assessee. It held that the Principal Commissioner of Income Tax (PCIT) exceeded jurisdiction under section 263, as the directions issued for de-novo assessment were beyond the scrutiny criteria for the relevant year. The PCIT's order was deemed erroneous, lacking in application of mind and violating principles of natural justice. Consequently, the Tribunal quashed the PCIT's order, emphasizing the need for compliance with legal standards in such proceedings. en-us Fri, 28 May 2021 00:00:00 +0530 Sat, 29 May 2021 08:30:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408039 The Tribunal allowed the appeal, ruling in favor of the assessee. It held that the Principal Commissioner of Income Tax (PCIT) exceeded jurisdiction under section 263, as the directions issued for de-novo assessment were beyond the scrutiny criteria for the relevant year. The PCIT's order was deemed erroneous, lacking in application of mind and violating principles of natural justice. Consequently, the Tribunal quashed the PCIT's order, emphasizing the need for compliance with legal standards in such proceedings. Case-Laws Income Tax Fri, 28 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408039