https://www.taxtmi.com/caselaws?id=416651 The Tribunal found in favor of the assessee, holding that the assumption of jurisdiction under Section 263 by the Principal Commissioner of Income Tax was not justified. The Tribunal concluded that the Assessing Officer had conducted sufficient enquiries and verifications regarding the issuance of Compulsorily Convertible Debentures (CCDs) and the receipt of share premium. As a result, the Tribunal set aside the order passed by the Principal Commissioner of Income Tax and allowed the grounds of appeal raised by the assessee. en-us Fri, 12 Nov 2021 00:00:00 +0530 Tue, 04 Jan 2022 07:23:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416651 The Tribunal found in favor of the assessee, holding that the assumption of jurisdiction under Section 263 by the Principal Commissioner of Income Tax was not justified. The Tribunal concluded that the Assessing Officer had conducted sufficient enquiries and verifications regarding the issuance of Compulsorily Convertible Debentures (CCDs) and the receipt of share premium. As a result, the Tribunal set aside the order passed by the Principal Commissioner of Income Tax and allowed the grounds of appeal raised by the assessee. Case-Laws Income Tax Fri, 12 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416651