https://www.taxtmi.com/caselaws?id=423568 The ITAT Chennai condoned the delay in filing the appeal due to a wrong understanding of the law by the assessee, admitting the appeal for hearing. Regarding the jurisdiction of the PCIT to revise the assessment order, the tribunal found the PCIT's revision on the issue of unsecured loans already examined by the AO to be erroneous. The tribunal quashed the revision order under Section 263 of the Income Tax Act, allowing the appeal filed by the assessee. en-us Thu, 02 Jun 2022 00:00:00 +0530 Thu, 09 Jun 2022 08:17:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423568 The ITAT Chennai condoned the delay in filing the appeal due to a wrong understanding of the law by the assessee, admitting the appeal for hearing. Regarding the jurisdiction of the PCIT to revise the assessment order, the tribunal found the PCIT's revision on the issue of unsecured loans already examined by the AO to be erroneous. The tribunal quashed the revision order under Section 263 of the Income Tax Act, allowing the appeal filed by the assessee. Case-Laws Income Tax Thu, 02 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423568