https://www.taxtmi.com/caselaws?id=429886 The Tribunal held that the Principal Commissioner of Income Tax's order directing the Assessing Officer to redo the assessment under section 40A(3) for the A.Y. 2012-13 was invalid as it was based on the AO's proposal, quashing the order. Additionally, the Tribunal found the assumption of jurisdiction by the Principal Commissioner under section 263 to revise the assessment order was void as it was also based on the AO's proposal, leading to the quashing of that order as well. Consequently, the Tribunal allowed the appeals of the assessees, rendering the other grounds raised by the assessee moot. en-us Wed, 19 Oct 2022 00:00:00 +0530 Mon, 07 Nov 2022 09:12:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429886 The Tribunal held that the Principal Commissioner of Income Tax's order directing the Assessing Officer to redo the assessment under section 40A(3) for the A.Y. 2012-13 was invalid as it was based on the AO's proposal, quashing the order. Additionally, the Tribunal found the assumption of jurisdiction by the Principal Commissioner under section 263 to revise the assessment order was void as it was also based on the AO's proposal, leading to the quashing of that order as well. Consequently, the Tribunal allowed the appeals of the assessees, rendering the other grounds raised by the assessee moot. Case-Laws Income Tax Wed, 19 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429886