https://www.taxtmi.com/caselaws?id=305014 The tribunal held that the Principal Commissioner of Income Tax (PCIT) was not justified in invoking Section 263 of the Income Tax Act, 1961, as the Assessing Officer's (AO) order was not erroneous and did not prejudice the Revenue. The tribunal emphasized the importance of upholding the AO's quasi-judicial powers and ruled in favor of the assessee, setting aside the PCIT's order and allowing the appeal. en-us Fri, 08 Jun 2018 00:00:00 +0530 Fri, 11 Nov 2022 08:59:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=305014 The tribunal held that the Principal Commissioner of Income Tax (PCIT) was not justified in invoking Section 263 of the Income Tax Act, 1961, as the Assessing Officer's (AO) order was not erroneous and did not prejudice the Revenue. The tribunal emphasized the importance of upholding the AO's quasi-judicial powers and ruled in favor of the assessee, setting aside the PCIT's order and allowing the appeal. Case-Laws Income Tax Fri, 08 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=305014