https://www.taxtmi.com/caselaws?id=422281 The appellate tribunal, comprising Shri Rajpal Yadav, Vice-President, and Shri Rajesh Kumar, Accountant Member, analyzed the issues raised by the appellant against the order passed by the Principal Commissioner of Income Tax-1, Kolkata under section 263 of the Income Tax Act, 1961. The Tribunal found the appellant's contentions regarding lack of application of mind and initiation of proceedings based on audit objections to be unsubstantiated. Regarding the assessment order under section 143(3), the Tribunal held that the PCIT's revisionary jurisdiction was not valid. Consequently, the tribunal allowed the appeal, quashing the order passed under section 263 of the Act. en-us Mon, 09 May 2022 00:00:00 +0530 Thu, 12 May 2022 08:46:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422281 The appellate tribunal, comprising Shri Rajpal Yadav, Vice-President, and Shri Rajesh Kumar, Accountant Member, analyzed the issues raised by the appellant against the order passed by the Principal Commissioner of Income Tax-1, Kolkata under section 263 of the Income Tax Act, 1961. The Tribunal found the appellant's contentions regarding lack of application of mind and initiation of proceedings based on audit objections to be unsubstantiated. Regarding the assessment order under section 143(3), the Tribunal held that the PCIT's revisionary jurisdiction was not valid. Consequently, the tribunal allowed the appeal, quashing the order passed under section 263 of the Act. Case-Laws Income Tax Mon, 09 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422281