https://www.taxtmi.com/caselaws?id=306740 The Tribunal held that the Principal Commissioner of Income Tax (Pr. CIT) exceeded his jurisdiction by directing specific disallowances and modifications to the assessment order. The Tribunal emphasized that under section 263, the Pr. CIT can direct the Assessing Officer to redo the assessment but cannot dictate the specific outcome. The Tribunal quashed the Pr. CIT's order, asserting that the AO's original assessment was neither erroneous nor prejudicial to the interest of the revenue, as the AO had taken one of the possible views after due consideration. The appeal of the assessee was allowed, and the order passed by the Pr. CIT under section 263 was quashed. en-us Tue, 19 Feb 2019 00:00:00 +0530 Thu, 23 Feb 2023 02:54:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306740 The Tribunal held that the Principal Commissioner of Income Tax (Pr. CIT) exceeded his jurisdiction by directing specific disallowances and modifications to the assessment order. The Tribunal emphasized that under section 263, the Pr. CIT can direct the Assessing Officer to redo the assessment but cannot dictate the specific outcome. The Tribunal quashed the Pr. CIT's order, asserting that the AO's original assessment was neither erroneous nor prejudicial to the interest of the revenue, as the AO had taken one of the possible views after due consideration. The appeal of the assessee was allowed, and the order passed by the Pr. CIT under section 263 was quashed. Case-Laws Income Tax Tue, 19 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306740