https://www.taxtmi.com/caselaws?id=423151 The Tribunal upheld the Principal Commissioner of Income Tax's (Pr.CIT) invocation of Section 263, even when the matter was pending before the Commissioner of Income Tax (Appeals) (CIT(A)), as long as the issues under revision were not considered in the appeal. The Tribunal affirmed the validity of the revisionary proceedings under Section 263 due to the Assessing Officer's failure to make necessary inquiries and verifications, deeming the assessment order erroneous and prejudicial to revenue. The appeal of the assessee was dismissed, and the order was pronounced on 27/05/2022. en-us Fri, 27 May 2022 00:00:00 +0530 Mon, 30 May 2022 10:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423151 The Tribunal upheld the Principal Commissioner of Income Tax's (Pr.CIT) invocation of Section 263, even when the matter was pending before the Commissioner of Income Tax (Appeals) (CIT(A)), as long as the issues under revision were not considered in the appeal. The Tribunal affirmed the validity of the revisionary proceedings under Section 263 due to the Assessing Officer's failure to make necessary inquiries and verifications, deeming the assessment order erroneous and prejudicial to revenue. The appeal of the assessee was dismissed, and the order was pronounced on 27/05/2022. Case-Laws Income Tax Fri, 27 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423151