https://www.taxtmi.com/caselaws?id=431898 The Tribunal held that the Principal Commissioner of Income-tax (Pr. CIT) did not demonstrate that the Assessing Officer's order was erroneous and prejudicial to Revenue's interest. The Tribunal set aside the revision order under Section 263, ruling in favor of the assessee. It emphasized the adequacy of the AO's inquiry and criticized the Pr. CIT's misinterpretation of the law. The decision was rendered on 21.12.2022. en-us Wed, 21 Dec 2022 00:00:00 +0530 Fri, 23 Dec 2022 09:21:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431898 The Tribunal held that the Principal Commissioner of Income-tax (Pr. CIT) did not demonstrate that the Assessing Officer's order was erroneous and prejudicial to Revenue's interest. The Tribunal set aside the revision order under Section 263, ruling in favor of the assessee. It emphasized the adequacy of the AO's inquiry and criticized the Pr. CIT's misinterpretation of the law. The decision was rendered on 21.12.2022. Case-Laws Income Tax Wed, 21 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431898