https://www.taxtmi.com/caselaws?id=425743 The tribunal allowed the appeal of the assessee, quashing the revision order passed by the Principal Commissioner of Income Tax (PCIT) under Section 263 of the Income Tax Act. The tribunal held that the PCIT erred in invoking revisionary jurisdiction as the assumption of jurisdiction was based on incorrect facts, and the assessee had duly satisfied the necessary requirements under Section 68 of the Act. en-us Wed, 27 Jul 2022 00:00:00 +0530 Sat, 30 Jul 2022 08:29:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425743 The tribunal allowed the appeal of the assessee, quashing the revision order passed by the Principal Commissioner of Income Tax (PCIT) under Section 263 of the Income Tax Act. The tribunal held that the PCIT erred in invoking revisionary jurisdiction as the assumption of jurisdiction was based on incorrect facts, and the assessee had duly satisfied the necessary requirements under Section 68 of the Act. Case-Laws Income Tax Wed, 27 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425743