https://www.taxtmi.com/caselaws?id=414094 The Tribunal quashed the revisional order passed under Section 263 of the Income Tax Act, 1961, finding procedural irregularities and lack of opportunity for the assessee to be heard. The show-cause notice was issued after the scheduled hearing time, rendering the order null and void ab initio. The deductions claimed under Section 54B were deemed valid, and the PCIT's actions were considered arbitrary. The Tribunal allowed the assessee's appeal, setting aside the revisional order on 21.10.2021. en-us Thu, 21 Oct 2021 00:00:00 +0530 Thu, 28 Oct 2021 08:40:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414094 The Tribunal quashed the revisional order passed under Section 263 of the Income Tax Act, 1961, finding procedural irregularities and lack of opportunity for the assessee to be heard. The show-cause notice was issued after the scheduled hearing time, rendering the order null and void ab initio. The deductions claimed under Section 54B were deemed valid, and the PCIT's actions were considered arbitrary. The Tribunal allowed the assessee's appeal, setting aside the revisional order on 21.10.2021. Case-Laws Income Tax Thu, 21 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414094