https://www.taxtmi.com/caselaws?id=421412 The Tribunal quashed the revisionary order passed by the Principal Commissioner of Income Tax (PCIT) under section 263 of the Income Tax Act, 1961, and allowed the appeal of the appellant assessee. The Tribunal found that the PCIT's revisionary action lacked compliance with the principles of natural justice, was based on an audit objection without tangible material, and the Assessing Officer's assessment order was neither erroneous nor prejudicial to the interest of the revenue. en-us Thu, 21 Apr 2022 00:00:00 +0530 Sat, 23 Apr 2022 08:35:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421412 The Tribunal quashed the revisionary order passed by the Principal Commissioner of Income Tax (PCIT) under section 263 of the Income Tax Act, 1961, and allowed the appeal of the appellant assessee. The Tribunal found that the PCIT's revisionary action lacked compliance with the principles of natural justice, was based on an audit objection without tangible material, and the Assessing Officer's assessment order was neither erroneous nor prejudicial to the interest of the revenue. Case-Laws Income Tax Thu, 21 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421412