https://www.taxtmi.com/caselaws?id=420365 The Tribunal held that the Principal Commissioner lacked jurisdiction under section 263 of the Income-tax Act, 1961, to invoke the section regarding work in progress issues beyond the limited scrutiny scope. Additionally, the Principal Commissioner's order was deemed invalid as the Assessing Officer had already examined and allowed the deduction claimed under section 80IB. The Tribunal emphasized the importance of procedural fairness and adherence to natural justice principles, especially during the COVID-19 pandemic, and remanded the matter back to the Principal Commissioner for reevaluation based on all submissions provided by the appellant. en-us Wed, 30 Mar 2022 00:00:00 +0530 Fri, 01 Apr 2022 08:33:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420365 The Tribunal held that the Principal Commissioner lacked jurisdiction under section 263 of the Income-tax Act, 1961, to invoke the section regarding work in progress issues beyond the limited scrutiny scope. Additionally, the Principal Commissioner's order was deemed invalid as the Assessing Officer had already examined and allowed the deduction claimed under section 80IB. The Tribunal emphasized the importance of procedural fairness and adherence to natural justice principles, especially during the COVID-19 pandemic, and remanded the matter back to the Principal Commissioner for reevaluation based on all submissions provided by the appellant. Case-Laws Income Tax Wed, 30 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420365