https://www.taxtmi.com/caselaws?id=433994 The Tribunal held that the Principal Commissioner of Income Tax (PCIT) erred in invoking Section 263 of the Income Tax Act as the matters were already under appeal before the CIT(Appeals). The addition of Rs. 1,02,60,638/- as undisclosed investments and the appropriateness of credit for Tax Collected at Source (TCS) were found to be adequately addressed by the Assessing Officer. The PCIT's actions were deemed unwarranted, and the appeal was allowed in favor of the assessee on January 13, 2023. en-us Fri, 13 Jan 2023 00:00:00 +0530 Wed, 15 Feb 2023 08:53:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433994 The Tribunal held that the Principal Commissioner of Income Tax (PCIT) erred in invoking Section 263 of the Income Tax Act as the matters were already under appeal before the CIT(Appeals). The addition of Rs. 1,02,60,638/- as undisclosed investments and the appropriateness of credit for Tax Collected at Source (TCS) were found to be adequately addressed by the Assessing Officer. The PCIT's actions were deemed unwarranted, and the appeal was allowed in favor of the assessee on January 13, 2023. Case-Laws Income Tax Fri, 13 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433994