https://www.taxtmi.com/caselaws?id=429066 The Tribunal allowed the appeal filed by the assessee, holding that the assessment order passed by the AO under Sec. 143(3) for AY 2015-16 was not erroneous or prejudicial to the Revenue's interest. The Tribunal rejected the PCIT's invocation of Sec. 263, emphasizing that the AO had properly considered the issues and accepted the purchases declared by the assessee after due examination. Consequently, the Tribunal quashed the order passed by the PCIT under Sec. 263. en-us Wed, 21 Sep 2022 00:00:00 +0530 Mon, 17 Oct 2022 13:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429066 The Tribunal allowed the appeal filed by the assessee, holding that the assessment order passed by the AO under Sec. 143(3) for AY 2015-16 was not erroneous or prejudicial to the Revenue's interest. The Tribunal rejected the PCIT's invocation of Sec. 263, emphasizing that the AO had properly considered the issues and accepted the purchases declared by the assessee after due examination. Consequently, the Tribunal quashed the order passed by the PCIT under Sec. 263. Case-Laws Income Tax Wed, 21 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429066