https://www.taxtmi.com/caselaws?id=413056 The Tribunal quashed the revisional order passed by the Principal Commissioner of Income Tax under section 263 of the Income Tax Act. It found that the PCIT lacked authority to assume jurisdiction and pass the revisional order, leading to a lack of proper opportunity and procedural irregularities for the assessee. The Tribunal also held that the Assessing Officer had conducted a proper enquiry regarding the deduction claimed under section 54F, rendering the PCIT's directions for further enquiry unnecessary. Additionally, the Tribunal emphasized the nullity of the revisional order due to the PCIT's failure to provide a reasonable opportunity for the assessee to be heard. en-us Wed, 29 Sep 2021 00:00:00 +0530 Mon, 04 Oct 2021 08:58:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=413056 The Tribunal quashed the revisional order passed by the Principal Commissioner of Income Tax under section 263 of the Income Tax Act. It found that the PCIT lacked authority to assume jurisdiction and pass the revisional order, leading to a lack of proper opportunity and procedural irregularities for the assessee. The Tribunal also held that the Assessing Officer had conducted a proper enquiry regarding the deduction claimed under section 54F, rendering the PCIT's directions for further enquiry unnecessary. Additionally, the Tribunal emphasized the nullity of the revisional order due to the PCIT's failure to provide a reasonable opportunity for the assessee to be heard. Case-Laws Income Tax Wed, 29 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=413056