https://www.taxtmi.com/caselaws?id=427286 The appeal was filed against the order passed by the Principal Commissioner of Income Tax (PCIT) under Section 263 of the Income Tax Act, 1961, challenging the jurisdiction assumed by the PCIT and the validity of the assessment order. The appellant failed to provide substantial evidence to support the claim of lack of jurisdiction, and the PCIT's decision was upheld. The PCIT found discrepancies in the treatment of the EPCG claim by the Assessing Officer, leading to the conclusion that the original assessment order needed revision for proper assessment of income related to the claim. The PCIT's decision for a fresh assessment was upheld based on the lack of proper verification by the Assessing Officer. en-us Mon, 08 Aug 2022 00:00:00 +0530 Tue, 06 Sep 2022 07:08:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427286 The appeal was filed against the order passed by the Principal Commissioner of Income Tax (PCIT) under Section 263 of the Income Tax Act, 1961, challenging the jurisdiction assumed by the PCIT and the validity of the assessment order. The appellant failed to provide substantial evidence to support the claim of lack of jurisdiction, and the PCIT's decision was upheld. The PCIT found discrepancies in the treatment of the EPCG claim by the Assessing Officer, leading to the conclusion that the original assessment order needed revision for proper assessment of income related to the claim. The PCIT's decision for a fresh assessment was upheld based on the lack of proper verification by the Assessing Officer. Case-Laws Income Tax Mon, 08 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427286