https://www.taxtmi.com/caselaws?id=409397 The tribunal allowed the appeal, setting aside the Principal Commissioner of Income Tax-1's order under section 263. The tribunal condoned the delay in filing the appeal, held that the PCIT wrongly assumed jurisdiction without meeting the conditions, and determined that compliance with section 194C(6) alone was sufficient. It emphasized that when two views exist on tax matters, the AO's decision cannot be considered erroneous. The tribunal ruled in favor of the appellant, citing legal interpretations and precedents, ultimately finding the PCIT's order unsustainable in law. en-us Mon, 14 Jun 2021 00:00:00 +0530 Wed, 07 Jul 2021 09:11:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409397 The tribunal allowed the appeal, setting aside the Principal Commissioner of Income Tax-1's order under section 263. The tribunal condoned the delay in filing the appeal, held that the PCIT wrongly assumed jurisdiction without meeting the conditions, and determined that compliance with section 194C(6) alone was sufficient. It emphasized that when two views exist on tax matters, the AO's decision cannot be considered erroneous. The tribunal ruled in favor of the appellant, citing legal interpretations and precedents, ultimately finding the PCIT's order unsustainable in law. Case-Laws Income Tax Mon, 14 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409397