https://www.taxtmi.com/caselaws?id=423451 The tribunal quashed the revisionary order under Section 263 and all consequent proceedings and orders, allowing the appeal of the assessee. The PCIT was deemed to have not conducted sufficient inquiries and erroneously held the assessment order as prejudicial to the interests of revenue without fully considering the detailed explanations provided by the assessee. The tribunal ruled that the PCIT could not validly assume jurisdiction under Section 263 without conducting further inquiries, leading to the decision in favor of the appellant. en-us Thu, 05 May 2022 00:00:00 +0530 Mon, 06 Jun 2022 15:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423451 The tribunal quashed the revisionary order under Section 263 and all consequent proceedings and orders, allowing the appeal of the assessee. The PCIT was deemed to have not conducted sufficient inquiries and erroneously held the assessment order as prejudicial to the interests of revenue without fully considering the detailed explanations provided by the assessee. The tribunal ruled that the PCIT could not validly assume jurisdiction under Section 263 without conducting further inquiries, leading to the decision in favor of the appellant. Case-Laws Income Tax Thu, 05 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423451