https://www.taxtmi.com/caselaws?id=422833 The Kolkata ITAT upheld the jurisdiction of the PCIT under section 263 of the Income Tax Act, 1961, dismissing the grounds raised by the assessee challenging the PCIT's order. The PCIT's decision to remit the issue of unlisted equity share investments back to the AO for thorough examination was affirmed, emphasizing the inadequacy of inquiry by the AO and the need for further scrutiny. The appeal was ultimately dismissed on 17th May 2022 by the Kolkata ITAT. en-us Tue, 17 May 2022 00:00:00 +0530 Tue, 24 May 2022 06:56:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422833 The Kolkata ITAT upheld the jurisdiction of the PCIT under section 263 of the Income Tax Act, 1961, dismissing the grounds raised by the assessee challenging the PCIT's order. The PCIT's decision to remit the issue of unlisted equity share investments back to the AO for thorough examination was affirmed, emphasizing the inadequacy of inquiry by the AO and the need for further scrutiny. The appeal was ultimately dismissed on 17th May 2022 by the Kolkata ITAT. Case-Laws Income Tax Tue, 17 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422833