https://www.taxtmi.com/caselaws?id=422424 The Tribunal upheld the Principal Commissioner of Income Tax's order, dismissing the appeals of the assessees. It was found that the Assessing Officer had failed to conduct proper inquiries into the agricultural income claimed, leading to an erroneous assessment order. The Principal Commissioner's assumption of revisionary jurisdiction under Section 263 of the Income-tax Act, 1961, was deemed justified. The decision in ITA No. 177/PUN/2021 for A.Y. 2016-17 was applied mutatis mutandis to ITA No. 176/PUN/2021 for A.Y. 2016-17, resulting in the dismissal of both appeals. en-us Fri, 06 May 2022 00:00:00 +0530 Sat, 14 May 2022 08:39:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422424 The Tribunal upheld the Principal Commissioner of Income Tax's order, dismissing the appeals of the assessees. It was found that the Assessing Officer had failed to conduct proper inquiries into the agricultural income claimed, leading to an erroneous assessment order. The Principal Commissioner's assumption of revisionary jurisdiction under Section 263 of the Income-tax Act, 1961, was deemed justified. The decision in ITA No. 177/PUN/2021 for A.Y. 2016-17 was applied mutatis mutandis to ITA No. 176/PUN/2021 for A.Y. 2016-17, resulting in the dismissal of both appeals. Case-Laws Income Tax Fri, 06 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422424