https://www.taxtmi.com/caselaws?id=295990 The Tribunal allowed the appeal of the assessee, quashing the Principal Commissioner of Income Tax's order under Section 263. The Tribunal held that the Principal Commissioner failed to demonstrate that the Assessing Officer's order was erroneous and prejudicial to the interest of the revenue. It was emphasized that the Assessing Officer had conducted a thorough enquiry, and his view was deemed plausible, leading to the conclusion that the conditions for invoking Section 263 were not met. The appeal was allowed, and the order was pronounced on 3rd December 2020. en-us Thu, 03 Dec 2020 00:00:00 +0530 Tue, 29 Jun 2021 09:39:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=295990 The Tribunal allowed the appeal of the assessee, quashing the Principal Commissioner of Income Tax's order under Section 263. The Tribunal held that the Principal Commissioner failed to demonstrate that the Assessing Officer's order was erroneous and prejudicial to the interest of the revenue. It was emphasized that the Assessing Officer had conducted a thorough enquiry, and his view was deemed plausible, leading to the conclusion that the conditions for invoking Section 263 were not met. The appeal was allowed, and the order was pronounced on 3rd December 2020. Case-Laws Income Tax Thu, 03 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=295990