https://www.taxtmi.com/caselaws?id=413298 The Tribunal allowed the appeal of the assessee, setting aside the Principal Commissioner of Income Tax's order under Section 263 of the Income Tax Act, 1961. The Tribunal held that the AO had conducted necessary enquiries and properly allowed deductions under Sections 80IA and 80G of the Act. It found that the PCIT's actions were without jurisdiction, as they were based on the absence of proper enquiry rather than specific errors. The Tribunal emphasized the AO's exclusive authority to assess material and ruled that a superior authority cannot interfere under Section 263 of the Act. en-us Wed, 29 Sep 2021 00:00:00 +0530 Fri, 08 Oct 2021 08:21:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=413298 The Tribunal allowed the appeal of the assessee, setting aside the Principal Commissioner of Income Tax's order under Section 263 of the Income Tax Act, 1961. The Tribunal held that the AO had conducted necessary enquiries and properly allowed deductions under Sections 80IA and 80G of the Act. It found that the PCIT's actions were without jurisdiction, as they were based on the absence of proper enquiry rather than specific errors. The Tribunal emphasized the AO's exclusive authority to assess material and ruled that a superior authority cannot interfere under Section 263 of the Act. Case-Laws Income Tax Wed, 29 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=413298