https://www.taxtmi.com/caselaws?id=414960 The Tribunal quashed the order passed under Section 263, holding that the original assessment order was neither erroneous nor prejudicial to the interest of revenue. The Tribunal emphasized that the AO had duly considered all the information and responses provided by the assessee during the assessment proceedings, and the PCIT had failed to conduct any independent inquiry to justify the invocation of Section 263. The Tribunal also found that a reference to the TPO was not mandatory in the assessee's case, as the conditions outlined in CBDT Instruction No. 3/2016 were not met. en-us Wed, 08 Sep 2021 00:00:00 +0530 Sat, 20 Nov 2021 10:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414960 The Tribunal quashed the order passed under Section 263, holding that the original assessment order was neither erroneous nor prejudicial to the interest of revenue. The Tribunal emphasized that the AO had duly considered all the information and responses provided by the assessee during the assessment proceedings, and the PCIT had failed to conduct any independent inquiry to justify the invocation of Section 263. The Tribunal also found that a reference to the TPO was not mandatory in the assessee's case, as the conditions outlined in CBDT Instruction No. 3/2016 were not met. Case-Laws Income Tax Wed, 08 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414960