https://www.taxtmi.com/caselaws?id=412346 The Tribunal found that the Principal Commissioner of Income Tax (Pr. CIT) erred in assuming jurisdiction under section 263 as the original assessment order was not erroneous or prejudicial to the Revenue's interest. The Tribunal emphasized that the Assessing Officer (AO) had followed guidelines and instructions, and the case was selected on non-transfer pricing risk parameters. The Tribunal set aside the Pr. CIT's order under section 263 and upheld the original assessment order, ruling in favor of the assessee in both appeals. en-us Wed, 08 Sep 2021 00:00:00 +0530 Tue, 14 Sep 2021 15:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412346 The Tribunal found that the Principal Commissioner of Income Tax (Pr. CIT) erred in assuming jurisdiction under section 263 as the original assessment order was not erroneous or prejudicial to the Revenue's interest. The Tribunal emphasized that the Assessing Officer (AO) had followed guidelines and instructions, and the case was selected on non-transfer pricing risk parameters. The Tribunal set aside the Pr. CIT's order under section 263 and upheld the original assessment order, ruling in favor of the assessee in both appeals. Case-Laws Income Tax Wed, 08 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412346