https://www.taxtmi.com/caselaws?id=430388 The tribunal set aside the order of the Principal Commissioner of Income Tax (PCIT) and allowed the appeals of the assessee for the assessment years 2014-15 and 2015-16. It held that the assumption of jurisdiction under Section 263 by the PCIT was bad in law as the subject matter of appeal before the Commissioner of Income Tax (Appeals) was pending adjudication. The tribunal found that the Assessing Officer had conducted necessary enquiries and the PCIT failed to demonstrate how the assessment order was erroneous and prejudicial to the interest of the Revenue. en-us Wed, 02 Nov 2022 00:00:00 +0530 Fri, 18 Nov 2022 10:34:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430388 The tribunal set aside the order of the Principal Commissioner of Income Tax (PCIT) and allowed the appeals of the assessee for the assessment years 2014-15 and 2015-16. It held that the assumption of jurisdiction under Section 263 by the PCIT was bad in law as the subject matter of appeal before the Commissioner of Income Tax (Appeals) was pending adjudication. The tribunal found that the Assessing Officer had conducted necessary enquiries and the PCIT failed to demonstrate how the assessment order was erroneous and prejudicial to the interest of the Revenue. Case-Laws Income Tax Wed, 02 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430388