https://www.taxtmi.com/caselaws?id=417473 The Tribunal quashed the order passed by the Principal Commissioner of Income Tax (PCIT) under Section 263 of the Income Tax Act, holding that the Assessing Officer (AO) had adequately verified and examined the details provided by the assessee. The appeal was allowed, with the Tribunal emphasizing that the PCIT failed to demonstrate how the AO's order was erroneous or prejudicial to the Revenue's interest. The Tribunal highlighted the significance of the AO's satisfaction and the thoroughness of enquiries conducted during the assessment proceedings. en-us Wed, 19 Jan 2022 00:00:00 +0530 Mon, 24 Jan 2022 08:52:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417473 The Tribunal quashed the order passed by the Principal Commissioner of Income Tax (PCIT) under Section 263 of the Income Tax Act, holding that the Assessing Officer (AO) had adequately verified and examined the details provided by the assessee. The appeal was allowed, with the Tribunal emphasizing that the PCIT failed to demonstrate how the AO's order was erroneous or prejudicial to the Revenue's interest. The Tribunal highlighted the significance of the AO's satisfaction and the thoroughness of enquiries conducted during the assessment proceedings. Case-Laws Income Tax Wed, 19 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417473