https://www.taxtmi.com/caselaws?id=410450 The Tribunal held that the Principal Commissioner of Income Tax (Pr. CIT) wrongly assumed jurisdiction under section 263 of the Income Tax Act, finding that the Assessing Officer's (AO) order was neither erroneous nor prejudicial to the revenue's interest. The Pr. CIT's order was quashed, and the AO's assessment order was restored, ultimately allowing the appeal filed by the assessee. en-us Thu, 29 Jul 2021 00:00:00 +0530 Mon, 02 Aug 2021 09:05:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410450 The Tribunal held that the Principal Commissioner of Income Tax (Pr. CIT) wrongly assumed jurisdiction under section 263 of the Income Tax Act, finding that the Assessing Officer's (AO) order was neither erroneous nor prejudicial to the revenue's interest. The Pr. CIT's order was quashed, and the AO's assessment order was restored, ultimately allowing the appeal filed by the assessee. Case-Laws Income Tax Thu, 29 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410450