https://www.taxtmi.com/caselaws?id=409842 The Tribunal upheld the Principal Commissioner of Income Tax's (PCIT) exercise of revisional jurisdiction under Section 263, deeming the assessment order erroneous due to the Assessing Officer's failure to examine the claim for deduction under Section 80IC for direct sales to vendors. The Tribunal emphasized the necessity for thorough examination of claims, citing precedents that inadequate inquiry renders the order erroneous. The Tribunal rejected the argument of merger between the assessment and CIT(A) orders, affirming the PCIT's authority to revise the assessment order. en-us Thu, 15 Jul 2021 00:00:00 +0530 Sat, 17 Jul 2021 07:28:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409842 The Tribunal upheld the Principal Commissioner of Income Tax's (PCIT) exercise of revisional jurisdiction under Section 263, deeming the assessment order erroneous due to the Assessing Officer's failure to examine the claim for deduction under Section 80IC for direct sales to vendors. The Tribunal emphasized the necessity for thorough examination of claims, citing precedents that inadequate inquiry renders the order erroneous. The Tribunal rejected the argument of merger between the assessment and CIT(A) orders, affirming the PCIT's authority to revise the assessment order. Case-Laws Income Tax Thu, 15 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409842