https://www.taxtmi.com/caselaws?id=416306 The tribunal held that the Principal Commissioner of Income Tax (PCIT) was not justified in invoking Section 263 to set aside the assessment order passed by the Assessing Officer under Section 143(3). The tribunal found that the AO's inquiry was adequate, and the order was neither erroneous nor prejudicial to the interest of the Revenue. Consequently, the tribunal allowed the appeal of the assessee, setting aside the PCIT's order. en-us Wed, 22 Dec 2021 00:00:00 +0530 Sat, 25 Dec 2021 08:43:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416306 The tribunal held that the Principal Commissioner of Income Tax (PCIT) was not justified in invoking Section 263 to set aside the assessment order passed by the Assessing Officer under Section 143(3). The tribunal found that the AO's inquiry was adequate, and the order was neither erroneous nor prejudicial to the interest of the Revenue. Consequently, the tribunal allowed the appeal of the assessee, setting aside the PCIT's order. Case-Laws Income Tax Wed, 22 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416306