https://www.taxtmi.com/caselaws?id=414194 The Tribunal set aside the revisional order by the Principal Commissioner of Income Tax (PCIT), finding it lacked legal basis and failed to adhere to principles of natural justice. The PCIT's directions regarding verification of transactions, applicability of tax sections, and payments were deemed unsubstantiated. The Tribunal emphasized the PCIT's need for circumspection, quashing the order and allowing the assessee's appeal. en-us Fri, 22 Oct 2021 00:00:00 +0530 Sat, 30 Oct 2021 15:48:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414194 The Tribunal set aside the revisional order by the Principal Commissioner of Income Tax (PCIT), finding it lacked legal basis and failed to adhere to principles of natural justice. The PCIT's directions regarding verification of transactions, applicability of tax sections, and payments were deemed unsubstantiated. The Tribunal emphasized the PCIT's need for circumspection, quashing the order and allowing the assessee's appeal. Case-Laws Income Tax Fri, 22 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414194