https://www.taxtmi.com/caselaws?id=302536 The Tribunal quashed the orders passed by the Principal Commissioner of Income Tax under section 263 of the Income Tax Act, holding that the exercise of power was arbitrary and whimsical. The Tribunal emphasized that the Principal Commissioner failed to demonstrate any error in the Assessing Officer's order that was prejudicial to the interests of the Revenue and did not make any minimalistic inquiry to support his conclusions. As a result, the appeals of the assessees were allowed. en-us Tue, 27 Nov 2018 00:00:00 +0530 Fri, 03 Jun 2022 08:26:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=302536 The Tribunal quashed the orders passed by the Principal Commissioner of Income Tax under section 263 of the Income Tax Act, holding that the exercise of power was arbitrary and whimsical. The Tribunal emphasized that the Principal Commissioner failed to demonstrate any error in the Assessing Officer's order that was prejudicial to the interests of the Revenue and did not make any minimalistic inquiry to support his conclusions. As a result, the appeals of the assessees were allowed. Case-Laws Income Tax Tue, 27 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=302536