https://www.taxtmi.com/caselaws?id=412626 The Tribunal found the order issued to a dissolved trust as illegal and null, citing precedents. It ruled that the Principal Commissioner of Income Tax (PCIT) did not meet the statutory preconditions for invoking Section 263, emphasizing the lack of unsustainable views by the Assessing Officer. Additionally, the directive to add unexplained income was deemed erroneous due to lack of evidence and misinterpretation of tax laws. As a result, the Tribunal quashed the order under Section 263, allowing all appeals of the assessee. en-us Thu, 09 Sep 2021 00:00:00 +0530 Thu, 28 Oct 2021 15:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412626 The Tribunal found the order issued to a dissolved trust as illegal and null, citing precedents. It ruled that the Principal Commissioner of Income Tax (PCIT) did not meet the statutory preconditions for invoking Section 263, emphasizing the lack of unsustainable views by the Assessing Officer. Additionally, the directive to add unexplained income was deemed erroneous due to lack of evidence and misinterpretation of tax laws. As a result, the Tribunal quashed the order under Section 263, allowing all appeals of the assessee. Case-Laws Income Tax Thu, 09 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412626