https://www.taxtmi.com/caselaws?id=432245 The High Court upheld the Tribunal's decision to quash the Principal Commissioner of Income Tax's order under section 263 of the Income Tax Act, 1961. The Court found that the PCIT did not conduct sufficient inquiries or provide specific areas for verification before setting aside the assessment order. Consequently, the Court concluded that the conditions for invoking jurisdiction under section 263 were not met, leading to the dismissal of the Tax Appeal. en-us Mon, 13 Jun 2022 00:00:00 +0530 Fri, 30 Dec 2022 14:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432245 The High Court upheld the Tribunal's decision to quash the Principal Commissioner of Income Tax's order under section 263 of the Income Tax Act, 1961. The Court found that the PCIT did not conduct sufficient inquiries or provide specific areas for verification before setting aside the assessment order. Consequently, the Court concluded that the conditions for invoking jurisdiction under section 263 were not met, leading to the dismissal of the Tax Appeal. Case-Laws Income Tax Mon, 13 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432245