https://www.taxtmi.com/caselaws?id=431668 The tribunal found that the Principal Commissioner of Income Tax (PCIT) lacked jurisdiction to issue a notice under Section 263 as the Assessing Officer (AO) had conducted a thorough inquiry during the original assessment proceedings. The tribunal upheld the original assessment order by the AO, concluding that it was neither erroneous nor prejudicial to the interest of the Revenue. Therefore, the tribunal set aside the PCIT's order and allowed the appeal of the assessee. en-us Tue, 06 Dec 2022 00:00:00 +0530 Mon, 19 Dec 2022 09:16:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431668 The tribunal found that the Principal Commissioner of Income Tax (PCIT) lacked jurisdiction to issue a notice under Section 263 as the Assessing Officer (AO) had conducted a thorough inquiry during the original assessment proceedings. The tribunal upheld the original assessment order by the AO, concluding that it was neither erroneous nor prejudicial to the interest of the Revenue. Therefore, the tribunal set aside the PCIT's order and allowed the appeal of the assessee. Case-Laws Income Tax Tue, 06 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431668