https://www.taxtmi.com/caselaws?id=434919 The Tribunal ruled in favor of the assessees, quashing the orders passed by the Principal Commissioner of Income Tax (PCIT). It upheld the validity of the Assessing Officer's assessment orders, finding that they were made after due enquiries and proper application of mind. The Tribunal emphasized that the PCIT cannot substitute his view with that of the AO unless the AO's view is shown to be erroneous. It concluded that the assumption of jurisdiction by the PCIT under Section 263 was invalid in this case. en-us Wed, 07 Dec 2022 00:00:00 +0530 Mon, 06 Mar 2023 17:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=434919 The Tribunal ruled in favor of the assessees, quashing the orders passed by the Principal Commissioner of Income Tax (PCIT). It upheld the validity of the Assessing Officer's assessment orders, finding that they were made after due enquiries and proper application of mind. The Tribunal emphasized that the PCIT cannot substitute his view with that of the AO unless the AO's view is shown to be erroneous. It concluded that the assumption of jurisdiction by the PCIT under Section 263 was invalid in this case. Case-Laws Income Tax Wed, 07 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434919