https://www.taxtmi.com/caselaws?id=414477 The Tribunal held that the Principal Commissioner of Income Tax (PCIT) cannot raise a new issue under Section 263 during reassessment if no addition was made on the original point. As the Assessing Officer did not make any addition regarding the capital gain from the transfer of an industrial plot, the PCIT's jurisdiction was limited to the issues examined during reassessment. Consequently, the PCIT's order under Section 263 was quashed, and the assessee's appeal was allowed. en-us Tue, 12 Oct 2021 00:00:00 +0530 Tue, 09 Nov 2021 08:31:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414477 The Tribunal held that the Principal Commissioner of Income Tax (PCIT) cannot raise a new issue under Section 263 during reassessment if no addition was made on the original point. As the Assessing Officer did not make any addition regarding the capital gain from the transfer of an industrial plot, the PCIT's jurisdiction was limited to the issues examined during reassessment. Consequently, the PCIT's order under Section 263 was quashed, and the assessee's appeal was allowed. Case-Laws Income Tax Tue, 12 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414477