https://www.taxtmi.com/caselaws?id=420625 The tribunal set aside the PCIT's order, ruling that the PCIT lacked justification in invoking Section 263 to overturn the assessment order issued by the AO under Section 143(3). The tribunal sided with the assessee, determining that the AO's order was not erroneous or prejudicial to Revenue interests. Additionally, the tribunal found that the notices issued under Section 263 did not comply with the principles of natural justice. Consequently, the appeal of the assessee was allowed, and the PCIT's decision was overturned. en-us Mon, 04 Apr 2022 00:00:00 +0530 Wed, 06 Apr 2022 09:09:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420625 The tribunal set aside the PCIT's order, ruling that the PCIT lacked justification in invoking Section 263 to overturn the assessment order issued by the AO under Section 143(3). The tribunal sided with the assessee, determining that the AO's order was not erroneous or prejudicial to Revenue interests. Additionally, the tribunal found that the notices issued under Section 263 did not comply with the principles of natural justice. Consequently, the appeal of the assessee was allowed, and the PCIT's decision was overturned. Case-Laws Income Tax Mon, 04 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420625