https://www.taxtmi.com/caselaws?id=419390 The Tribunal allowed the appeal by the assessee, quashing the Principal Commissioner of Income Tax's order invoking revisional powers under section 263 of the Income Tax Act. The Tribunal found that the Assessing Officer had adequately applied his mind regarding the commission payment to the associate concern, and the twin mandatory conditions for invoking section 263 were not met. Previous acceptance of commission payments in other assessment years also influenced the decision to overturn the PCIT's order. en-us Wed, 16 Feb 2022 00:00:00 +0530 Thu, 10 Mar 2022 08:19:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419390 The Tribunal allowed the appeal by the assessee, quashing the Principal Commissioner of Income Tax's order invoking revisional powers under section 263 of the Income Tax Act. The Tribunal found that the Assessing Officer had adequately applied his mind regarding the commission payment to the associate concern, and the twin mandatory conditions for invoking section 263 were not met. Previous acceptance of commission payments in other assessment years also influenced the decision to overturn the PCIT's order. Case-Laws Income Tax Wed, 16 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419390